Reply #17: U.S. jobless claims fell 34,000 last week [View All]

http://yahoo.reuters.com/news/articlehybrid.aspx?type=comktNews&storyID=2006-12-07T133103Z_01_N06448530_RTRIDST_0_USA-ECONOMY-JOBLESS-URGENT.XML

WASHINGTON, Dec 7 (Reuters) - The number of U.S. workers seeking first-time jobless claims plunged last week, as expected, after surging the prior week during the start of the holiday season, a government report showed on Thursday.

First-time initial claims fell by 34,000 to a seasonally adjusted 324,000 in the week ended Dec. 2, down from a revised 358,000 in the previous week, the Labor Department said.

The decline was in line with Wall Street economists who had forecast they would fall to 325,000 from the originally reported 357,000 for the week ended Nov. 25.

...

Still, the four-week moving average, a better gauge of labor trends because it irons out weekly fluctuations, hit its highest level since May. It moved up to 328,750 from 325,250 in the prior week, for the sixth straight weekly gain.

The number of people who remained on the benefit rolls after drawing an initial week of aid rose 57,000 to 2.52 million in the week ended Nov. 25, the latest week for which these figures were available.