Unemployment Claims Up 1K, Better Than Expected
Initial jobless claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. In the week ending December 2, initial jobless claims were at a seasonally adjusted level of 220,000, an increase of 1,000 from the previous week's revised figure. The latest reading is lower than the forecast of 222,000.
Here is the opening statement from the Department of Labor:
In the week ending December 2, the advance figure for seasonally adjusted initial claims was 220,000, an increase of 1,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 218,000 to 219,000. The 4-week moving average was 220,750, an increase of 500 from the previous week's revised average. The previous week's average was revised up by 250 from 220,000 to 220,250.