U.S. unemployment claims drop to 372,000
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Washington, D.C., United States (AHN) – First time claims for unemployment compensation benefits during the week ending Dec. 31 dropped by 15,000 from the previous week to 372,000, according to the U.S. Department of Labor.
The less volatile 4-week moving average also fell, registering a decrease of 3,250 to 373,250 initial claims.
However, the advance seasonally adjusted insured unemployment rate also fell. It dropped by 0.1 percentage point to 2.8 percent for the week ending Dec. 24, the most recent week for which such data is available.
Analysts say the decrease in filing for jobless benefits is a move in the right direction.
The total number of people claiming benefits in all unemployment programs for the week ending Dec. 17 dropped by 8,311 from the previous week to 7,223,203.
The unemployment rate for December was 8.5 percent.
The largest increases in initial claims for the week ending Dec. 24 were:
- California (+16,490)
- Pennsylvania (+6,764)
- Michigan (+5,632)
- Kentucky (+5,263)
- Indiana (+5,084)
View full post on Economy Stories