Initial Unemployment Claims Down 5.7% Last Week

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Initial unemployment claims decreased 5.7% to 381,000 for the week ending December 3rd. As a result, the 4-week average decreased 3,000 to 393,250. This week’s figure is the lowest number of filings since February of this year and then June of 2008 before that. Although this is a one-week number, even a single instance of pre-recession unemployment filings bodes well. The week’s number was seasonally adjusted which would even out some of the increase in holiday retail hiring.

–From the St. Louis Federal Reserve

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