U.S. Jobless Claims Unexpectedly Decrease To 199,000
(RTTNews) - First-time claims for U.S. unemployment benefits unexpectedly dipped in the week ended December 27th, according to a report released by the Labor Department on Wednesday.
The report said initial jobless claims fell to 199,000, a decrease of 16,000 from the previous week's revised level of 215,000.
Economists had expected jobless claims to rise to 220,000 from the 214,000 originally reported for the previous week.
Meanwhile, the Labor Department said the less volatile four-week moving average inched up to 218,750, an increase of 1,750 from the previous week's revised average of 217,000.
The report said continuing claims, a reading on the number of people receiving ongoing unemployment benefits, slid by 47,000 to 1.866 million in the week ended December 20th.
The four-week moving average of continuing claims fell to 1,873,500, a decrease of 17,750 from the previous week's revised average of 1,891,250.
The Labor Department is scheduled to release its more closely watched monthly employment report for December on Friday, January 9th.
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