The number of new applications for unemployment benefits for the week ending December 3rd fell by 38,000 from the previous week to 381,000. This represents a nine-month low and beat forecasts of 395,000 new claims.
“The labor market is improving,†said Brian Jones, a senior U.S. economist at Societe Generale in New York. “The numbers are moving in the right direction. You have to be careful because we’re around the Thanksgiving holiday and the Department of Labor has a hard time adjusting around floating holidays.â€
Source: Bloomberg
