Bloomberg: The number of workers filing first-time claims for unemployment insurance payments fell last week in the U.S., showing the labor market continues to improve.
Applications for jobless benefits decreased to 421,000, less than the median forecast of economists surveyed by Bloomberg News, from a revised 438,000 the prior week, Labor Department figures showed today. The four-week moving average, a less-volatile measure, dropped to the lowest level in more than two years.
Companies are holding on to more workers as sales improve and expectations for growth brighten… “The labor market is moving in the right direction, slowly but surely,” said Ryan Sweet, a senior economist at Moody’s Analytics. “Things look a little better than they first appeared, but we’re still not creating enough jobs to lower the unemployment rate.”
The number of people continuing to collect jobless benefits fell by 191,000 in the week ended Nov. 27 to 4.09 million. They were forecast to fall to 4.24 million.
The unemployment rate among people eligible for benefits, which tends to track the jobless rate, dropped to 3.2 percent in the week ended Nov. 27, the lowest in two years, today’s report showed.
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