Weekly jobless claims drop 2,000 to 326,000

Weekly jobless claims drop 2,000 to 326,000

 The number of Americans who applied last week for unemployment benefits fell slightly and is now back to a level that prevailed shortly before the Thanksgiving holiday. Initial jobless claims dipped by 2,000 to 326,000 in the week ended Jan. 11, the Labor Department said Thursday. That's' the lowest level in six weeks. Economists polled by MarketWatch had expected claims, a good proxy for layoffs, to total 330,000 on a seasonally adjusted basis. Claims tend to gyrate up and down during the holiday season, making the report less useful than usual as a barometer of labor-market trends. The report usually smoothens out by the end of January. The average of new claims over the past month, seen as a more reliable gauge, fell by 13,500 to 335,000. That's the lowest level in five weeks. Also, the government said continuing claims increased by 174,000 to a seasonally adjusted 3.03 million in the week ended Jan 4. Continuing claims, reported with a two-week delay, reflect the number of people already receiving benefits. Initial claims from two weeks ago, meanwhile, were revised down to 328,000 from a first read of 330,000, based on more complete data. 

Unadjusted, totaled 534,431, How anyone gets 326,000 from this...is beyond the train of actual thought. Oh and this  Continuing claims, reported with a two-week delay