Weekly jobless claims edge down 2,000 to 339,000

Weekly jobless claims edge down 2,000 to 339,000

The number of people who filed new applications for unemployment benefits fell slightly in the last week of December, suggesting that the U.S. labor market continues to slowly improve. Initial claims declined by 2,000 to 339,000 in the week ended Dec. 28, the Labor Department said Thursday. Economists surveyed by MarketWatch expected claims - a rough proxy for layoffs - to total 342,000 on a seasonally adjusted basis. The average of new claims over the past month, usually a more reliable gauge than the volatile weekly number, rose by 8,500 to 357,250. That's the highest level since late October, but the increase likely reflects a temporary holiday-season spike that will fade over the next few weeks. Also, the government said continuing claims decreased by 98,000 to a seasonally adjusted 2.83 million in the week ended Dec. 21. Continuing claims reflect the number of people already receiving regular unemployment benefits, which last 26 weeks in most states. Initial claims from two weeks ago, meanwhile, were revised up to 341,000 from an original read of 338,000, based on more complete data.