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Financial News: U.S. Weekly Jobless Claims Unexpectedly Show Modest Decrea

U.S. Weekly Jobless Claims Unexpectedly Show Modest Decrease

12/30/2021 - 08:37:00 (RTTNews)

(RTTNews) - The Labor Department released a report on Thursday unexpectedly showing a modest drop in first-time claims for U.S. unemployment benefits in the week ended December 25th.

The report said initial jobless claims dipped to 198,000, a decrease of 8,000 from the previous week's revised level of 206,000.

The slight pullback surprised economists, who had expected jobless claims to inch up to 208,000 from the 205,000 originally reported for the previous week.

The Labor Department said the less volatile four-week moving average also slipped to 199,250, a decrease of 7,250 from the previous week's revised average of 206,500.

With the drop, the four-week moving average fell to its lowest level since hitting 199,250 in the week ended October 25, 1969.

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