The number of Americans filing applications for unemployment benefits dropped fr...
WASHINGTON - The number of Americans filing applications for unemployment benefits dropped from more than a two-year high last week, pointing to sustained labor market strength.
Though the drop did not unwind the prior week’s jump of 49,000, it likely does not indicate a material shift in labor market conditions as claims data tend to be volatile in the period following the Thanksgiving Day holiday. The Labor Department said no claims for states were estimated last week. The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, rose 1,500 to 225,500 last week. The underlying trend in claims remains consistent with a strong labor market.
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