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(Reuters) - U.S. home resales jumped more than expected in December despite bad weather as sellers cut prices while jobless claims fell sharply last week, offering some hope for the economy's two key trouble spots.
Jobless claims way down ....
Quote:
In another report, applications for new jobless benefits posted their biggest decline in nearly a year, erasing a holiday-related spike to show a steady if slow improvement in the labor market. Claims retreated to 404,000 from 441,000 in the prior week, the Labor Department said.
New US jobless claims drop more than expected
(AFP) – 2 hours ago
WASHINGTON — New claims for US unemployment insurance fell more than expected last week after a sharp spike the week before, official data showed Thursday. Initial jobless claims fell to 404,000 in the week ending January 15, a drop of 37,000 from the previous week, the Labor Department said.
The department revised downward the claims for the previous week, to 441,000, the highest number since mid-November. The initial estimate was 445,000.
The new reading was better than the average analyst estimate of 425,000 and in line with a downward trend in claims over the past five months. "It's essentially returning us to where we were before the large increase last week," a Labor Department official told reporters.
The four-week moving average, which helps to smooth weekly volatility, fell by 4,000 to 411,750.
NOTE: Those are just INITIAL unemployment claims, meaning that those are only how many people signed up for the first time. It says nothing about those who are already on unemployment or simply gave up trying.
New US jobless claims drop more than expected
(AFP) – 2 hours ago
WASHINGTON — New claims for US unemployment insurance fell more than expected last week after a sharp spike the week before, official data showed Thursday. Initial jobless claims fell to 404,000 in the week ending January 15, a drop of 37,000 from the previous week, the Labor Department said.
The department revised downward the claims for the previous week, to 441,000, the highest number since mid-November. The initial estimate was 445,000.
The new reading was better than the average analyst estimate of 425,000 and in line with a downward trend in claims over the past five months. "It's essentially returning us to where we were before the large increase last week," a Labor Department official told reporters.
The four-week moving average, which helps to smooth weekly volatility, fell by 4,000 to 411,750.
NOTE: Those are just INITIAL unemployment claims, meaning that those are only how many people signed up for the first time. It says nothing about those who are already on unemployment or simply gave up trying.
Good news is still good news. I'm glad to hear that less people are filing for unemployment insurance.
Aren't you happy to hear that less people are filing for initial unemployment insurance?
I'm not jumping for joy that the unemployment rate remains at 9.4%.
INITIAL claims really doesn't mean that much.....it doesn't reflect all the people still on unemployment or those who simply gave-up looking for work.
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