Weekly Jobless Claims Holding Consistent
The U.S. Department of Labor's weekly jobless claims report for the week ending on December 12 indicates that claims fell more than expected.
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This level was previously over the 300,000 mark in late November but quickly recovered below this level.
The four-week moving average fell to 298,750, a decrease of 750, and the previous level was revised to 299,500 from 299,250. This continues a streak of the four-week average for initial claims staying under the 300,000 level that has not been seen since 2000.
No special factors impacted this week’s claims.
Continuing claims, which lag by a week, decreased significantly by 147,000 to 2.373 million. This reversed the 148,000 increase that happened in the previous week. Continuing claims were at their lowest level since December 2000. They totaled 2.263 million when weekly jobless claims were reported on November 26.
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In addition, in its final meeting for the year, the Federal Reserve this week projected unemployment rates as follows:
- 5.8% in late 2014
- 5.2% to 5.3% by late 2015
- 5.0% to 5.2% by late 2016
- 4.9% to 5.3% by late 2017
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
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When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.