It seems that employers refrained from as many firings the week before Christmas this year. The data from the Labor Department showed that initial jobless claims fell by 28,000 to 452,000 in the week ended December 19. This was the lowest reading in more than a year.
Dow Jones had consensus around a drop of 10,000 to 470,000 as the economist poll. The four-week moving average fell by 2,750 to 465,250, also to its lowest reading in more than a year. The army of the unemployed, measured by the continuing claims, dropped by 127,000 to 5,076,000.
These figures will still need to get closer to 400,000 to have any real change in the unemployment rate. But for now, this is still a good start.
JON C. OGG
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