Daily News

View All News

Jobless claims average edges down; total claims fall by 2,000

December 07, 2017

The US four-week moving average of initial claims for unemployment insurance edged down to 241,500 last week, a decrease of 750 from the previous week’s unrevised average, according to seasonally adjusted numbers released today by the US Department of Labor.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended Dec. 2 fell to 236,000, down 2,000 from the previous week’s unrevised level.

The department reported claims-taking procedures continue to be disrupted in the Virgin Islands, and the claims-taking process in Puerto Rico has still not returned to normal.

Reuters reported the number of Americans filing for unemployment benefits unexpectedly fell last week, suggesting a rapid tightening of the labor market that bolsters expectations the Federal Reserve will raise interest rates next week. Its poll of economists had forecast claims rising to 240,000 in the latest week.