A small dip in the number of first-time filers is welcome, but makes little dent in the overall picture
In more good news for the U.S economy, the number of first-time filers for unemployment benefits fell in the week ending December 3 to 381,000, a decrease of 23,000 from the previous week’s 396,250.
This number comes in below the psychologically important 400,000 benchmark and gives an indication of growing strength in the U.S economy and a pickup in hiring.
The 4-week moving average also fell to 393,250, a decrease of 3,000 from the previous week’s revised average of 396,250.
The advance seasonally adjusted insured unemployment rate was 2.8% for the week ending November 5, a decrease of 0.2% from the week ending November 26.
Continuing claims – which include people filing for the second week of benefits or more during the week ending November 26 was 3,583,000, a decrease of 174,000 from the preceding week’s revised level of 3,757,000.
The 4-week moving average was 3,667,250, an decrease of 20,500 from the preceding week’s revised average of 3,687,750.
There are a few things that can still go wrong with the scenario of a U.S. recovery, such as the Eurozone crisis. That will play out today as Eurozone members meet in Brussels today to decide on a credible bailout plan.
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