This post was originally published on this site
The numbers: Initial jobless claims fell by 19,000 to 202,000 in the week ending Dec. 9, the U.S. Labor Department said Thursday. That’s the lowest level since mid-October.
Economists polled by The Wall Street Journal had estimated new claims would hold steady at 220,000.
Last week claims rose a revised 2,0000 to 221,000. That compared with the initial estimate of a rise of 1,000 to 220,000.
Key details: The number of people already collecting jobless benefits in the week ended Dec. 2 rose by 20,000 to 1.876 million.
On an unadjusted basis, claims fell 46,316 to 248,299 in the latest week.
Big picture: Jobless claims are volatile this time of year and economists are cautious about interpreting the data.
What are they saying? “When the dust settles, we expect to see initial claims trending at about 220,000,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics.
Market reaction: Stocks
DJIA
SPX
opened higher on Thursday after the Federal Reserve’s dovish meeting. The yield on the 10-year Treasury note
BX:TMUBMUSD10Y
fell to 3.947%.
