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Jobless claims fall

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Jobless claims fall

New claims drop below 300,000 after last week’s spike.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended November 29 were 297,000, a decrease of 17,000 from the previous week's revised figure.

Analysts had expected a decrease to 295,000.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 4,750 to 299,000.

The 4-week moving average has remained below 300,000 for 12 straight weeks, suggesting continued improvement in the labor markets.

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