Jobless claims drop by 42,000

[Freddie Stubbs]

Source: USA Today

Initial claims for unemployment insurance fell sharply last week in a possible sign that the job market is continuing to gain strength.

First-time claims for jobless benefits dropped by 42,000 to a seasonally adjusted 338,000 for the week ending Dec. 21, the Labor Department said Thursday.

The four-week average, which smooths out volatility, rose by 4,250 to 348,000.

Jobless claims have been elevated in recent weeks because of the late Thanksgiving holiday, which affected Labor's seasonal adjustments. Many economists expected a sharp downward correction for last week.

Read more: http://www.usatoday.com/story/money/business/2013/12/26/jobless-claims-extended-unemployment-benefits/4202083/

[Cryptoad]

1. a Real Shame

that most are jobs that don't pay enough for a worker to feed their family ! But Hell Corp profits are still thru the roof!