More are finding work this week
Painting an improving picture for the U.S economy, the number of first-time filers for unemployment benefits fell in the week ending December 10 to 366,000, a decrease of 19,000 from the previous week’s revised figure of 385,000.
This number marks the lowest level of initial unemployment claims since May 31, 2008, and is a welcome sign that hiring has picked up further in December. From a mid-recessionary high of 659,000 a week, the latest jobless claims push fears of a new recession further back.
The 4-week moving average also fell to 387,750, a decrease of 6,500 from the previous week’s revised average of 394,250.
The advance seasonally adjusted insured unemployment rate was 2.9% for the week ending December 3, unchanged from the prior week.
Continuing claims – which include people filing for the second week of benefits or more during the week ending November 26 was 3,603,000, an increase of 4,000 from the preceding week’s revised level of 3,599,000.
The 4-week moving average was 3,666,250, an decrease of 5,000 from the preceding week’s revised average of 3,671,250.
Unfortunately, across the Atlantic, the Eurozone crisis continues to fester, with key decision makers unable to come up with a credible solution to keep bond rates from rising further. That would seem to be the greatest threat to the U.S. economy these days.
Recent Comments