U.S. new jobless claims dip to 17-month low!
NEW YORK - December 31, 2009 - New U.S. claims for jobless benefits fell to the lowest level since July 2008, government data showed Thursday.
The seasonally adjusted initial claims in the week ending December 26 stood at 432,000, a decrease of 22,000 from the previous week's revised figure of 454,000, the Labor Department said in a report.
It was the lowest level since July 19, 2008, and much lower than the 460,000 figure expected by most economists.
The four-week moving average, a less volatile indicator than the week-to-week figures, fell to 460,250 from the previous week's revised average of 465,750.
The figures suggest the brutal pace of layoffs is easing during the holiday season, though it does not necessarily indicate these levels will continue.
The total number of Amerikans receiving unemployment benefits also fell.
Labor Department data showed the number of seasonally adjusted insured unemployment during the week ending December 19 was 4.981 million, a decrease of 57,000 from the preceding week's revised level of 5.038 million.