Thursday, December 07, 2006

Forex News: U.S. weekly jobless claims fell by 34,000

Forex News

The number of new filings for state unemployment benefits declined in the latest week, reversing a large increase in the previous week, the Labour Department said Thursday. Initial jobless claims fell by 34,000 to 324,000 in the week ended Dec. 2. The drop was in line with economists forecasts.

Claims rose a revised 35,000 to 358,000 in the previous week. This was the highest level of claims in over a year.

The four-week average of initial claims, which smoothes out weekly noise, rose 3,500 to 328,750. This is the highest level since May. The number of people collecting state unemployment benefits over the past four weeks rose by 57,000 to 2.52 million in the week ended Nov. 25.


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