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(Bloomberg) -- U.S. filings for unemployment benefits decreased for the
third time in four weeks, hovering near an almost five- decade low that
reflects a robust job market.
Jobless claims fell by 1,000 to 216,000 in the week ended Dec. 22, matching
the median estimate in a Bloomberg survey of economists and following a
revised reading of 217,000 for the prior week, Labor Department figures
showed Thursday. The four- week average, a less-volatile measure, fell to a
six-week low.
Key Insights
Employers continue to hold on to existing workers and are reluctant to fire
staff, one reason why applications for unemployment benefits are still near
historically low levels. The trend for jobless claims is in line with other
data showing strong demand for workers. That's helping to support consumer
spending, the biggest part of the economy, at a time the trade war with
China is clouding the outlook for businesses.
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Continuing claims, which are reported with a one-week lag, dropped by 4,000
to 1.7 million in the week ended Dec. 15. The unemployment rate among people
eligible for benefits held at 1.2 percent for a third straight week. Claims
for California, Kansas, Texas and Virginia were estimated last week,
according to the Labor Department. While the weekly data tend to be volatile
, economists watch these figures for a timely read on the labor market's
health.
For more articles like this, please visit us at bloomberg.com
漏2018 Bloomberg L.P.
third time in four weeks, hovering near an almost five- decade low that
reflects a robust job market.
Jobless claims fell by 1,000 to 216,000 in the week ended Dec. 22, matching
the median estimate in a Bloomberg survey of economists and following a
revised reading of 217,000 for the prior week, Labor Department figures
showed Thursday. The four- week average, a less-volatile measure, fell to a
six-week low.
Key Insights
Employers continue to hold on to existing workers and are reluctant to fire
staff, one reason why applications for unemployment benefits are still near
historically low levels. The trend for jobless claims is in line with other
data showing strong demand for workers. That's helping to support consumer
spending, the biggest part of the economy, at a time the trade war with
China is clouding the outlook for businesses.
Get More
Continuing claims, which are reported with a one-week lag, dropped by 4,000
to 1.7 million in the week ended Dec. 15. The unemployment rate among people
eligible for benefits held at 1.2 percent for a third straight week. Claims
for California, Kansas, Texas and Virginia were estimated last week,
according to the Labor Department. While the weekly data tend to be volatile
, economists watch these figures for a timely read on the labor market's
health.
For more articles like this, please visit us at bloomberg.com
漏2018 Bloomberg L.P.