FOREX TradingCharts.com

Financial News: U.S. Weekly Jobless Claims Unexpectedly Edge Down To

U.S. Weekly Jobless Claims Unexpectedly Edge Down To 787,000

12/31/2020 - 09:04:00 (RTTNews)

(RTTNews) - A report released by the Labor Department on Thursday unexpectedly showed a modest drop in first-time claims for U.S. unemployment benefits in the week ended December 26th.

The Labor Department said initial jobless claims edged down to 787,000, a decrease of 19,000 from the previous week's revised level of 806,000.

The dip surprised economists, who had expected jobless claims to rise to 833,000 from the 803,000 originally reported for the previous month.

Meanwhile, the report said the less volatile four-week moving average climbed to 836,750, an increase of 17,750 from the previous week's revised average of 819,000.

The Labor Department said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, fell by 103,000 to 5.219 million in the week ended December 19th.

The four-week moving average of continuing claims dropped to 5,457,250, a decrease of 77,000 from the previous week's revised average of 5,534,250.

"We think that holiday noise and uncertainty about extensions of benefits may have held down claims last week," said Nancy Vanden Houten, Lead U.S. Economist at Oxford Economics.

She added, "The risk is for a rise in claims in the weeks ahead now that emergency programs have been extended and an additional $300 in weekly benefits is being provided."

Next Friday, the Labor Department is scheduled to release its more closely watched report on the employment situation in the month of December.

Economists currently expect employment to rise by 100,000 jobs in December after climbing by 245,000 jobs in November. The unemployment rate is expected to inch up to 6.8 percent from 6.7 percent.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Japan Interest Rate Decision On Tap For Thursday (53 min(s), 55 sec(s) ago)
(RTTNews) - The Bank of Japan will wrap up its monetary policy meeting and then announce its decis ...Full Story»

South Korea Producer Prices Jump 0.7% In December (02 hr(s), 04 min(s), 55 sec(s) ago)
(RTTNews) - Producer prices in South Korea were up 0.7 percent on month in December, the Bank of K ...Full Story»

U.S. Homebuilder Confidence Unexpectedly Drops In January (07 hr(s), 23 min(s), 55 sec(s) ago)
(RTTNews) - Reflecting concerns about rising material costs and the resurgence of the coronavirus, ...Full Story»

Cyprus HICP Inflation Remains Negative (08 hr(s), 04 min(s), 55 sec(s) ago)
(RTTNews) - Cyprus's EU measure of inflation remained in the negative territory for the ninth ...Full Story»

Luxembourg Jobless Rate Rises In December (08 hr(s), 11 min(s), 55 sec(s) ago)
(RTTNews) - Luxembourg's unemployment rate rose in December, after remaining steady in the pre ...Full Story»

UK House Price Inflation Highest Since Mid-2016 (11 hr(s), 09 min(s), 55 sec(s) ago)
(RTTNews) - UK house prices grew at the fastest pace in more than four years in November as homebu ...Full Story»

Greece Current Account Gap Narrows In November (11 hr(s), 25 min(s), 55 sec(s) ago)
(RTTNews) - The Greece current account deficit narrowed in November from the previous year, the Ba ...Full Story»

Austria Inflation Slows In December (11 hr(s), 39 min(s), 55 sec(s) ago)
(RTTNews) - Austria's consumer price inflation eased in December, figures from Statistics Aust ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Japan Interest Rate Decision On Tap For Thursday

01/20/2021 - 17:30 PM (RTTNews)
(RTTNews) - The Bank of Japan will wrap up its monetary policy meeting and then announce its decis ...Full Story>>

South Korea Producer Prices Jump 0.7% In December

01/20/2021 - 16:19 PM (RTTNews)
(RTTNews) - Producer prices in South Korea were up 0.7 percent on month in December, the Bank of K ...Full Story>>

U.S. Homebuilder Confidence Unexpectedly Drops In January

01/20/2021 - 11:00 AM (RTTNews)
(RTTNews) - Reflecting concerns about rising material costs and the resurgence of the coronavirus, ...Full Story>>

Cyprus HICP Inflation Remains Negative

01/20/2021 - 10:19 AM (RTTNews)
(RTTNews) - Cyprus's EU measure of inflation remained in the negative territory for the ninth ...Full Story>>

Luxembourg Jobless Rate Rises In December

01/20/2021 - 10:12 AM (RTTNews)
(RTTNews) - Luxembourg's unemployment rate rose in December, after remaining steady in the pre ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.