Initial Jobless Claims Drops by 16,000
In the roller coaster ride that’s the initial unemployment claims in the U.S., the Labor Department saw a decrease of 16,000 claims last week. That’s coming off of last week’s report that had an increase of 16,000 initial claims.
While the number of initial claims keeps jumping up and down, the result has been stagnation in claims around the 450,000 to 460,000 range. The drop to 453,000 this week beat expectations as economists expected claims to fall by 5,000, according to the Wall Street Journal.
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