JOBLESS CLAIMS DROP TO THE LOWEST LEVEL SINCE 2008!
NICE! DEFINITELY NICE!
Wire: BLOOMBERG News (BN) Date: Dec 22 2011 7:30:01
Jobless Claims in U.S. Decrease to Lowest Since April 2008
By Timothy R. Homan
Dec. 22 (Bloomberg) -- The number of applications for
unemployment benefits unexpectedly dropped last week to the
lowest since April 2008, a sign that the U.S. labor market is
strengthening heading into 2012.
Jobless claims fell by 4,000 to 364,000 in the week ended
Dec. 17, Labor Department figures showed today in Washington.
The median forecast of 45 economists surveyed by Bloomberg News
projected an increase to 380,000.
A consistent slowdown in firings lays the foundation for an
increase in employment that may bolster consumer spending, which
accounts for about 70 percent of the world’s largest economy. At
the same time, a possible recession in Europe and a political
stalemate in Washington regarding a payroll tax cut are making
some companies hesitant to boost hiring.
“Most of the recent improvement in initial claims is
genuine and points toward stronger job growth this month,”
Aaron Smith, a senior economist at Moody’s Analytics Inc. in
West Chester, Pennsylvania, said before the report. “The
economy is ending 2011 on a positive note.”
Chicago Fed Nat Activity Index
GDP QoQ Annualized
GDP Price Index
Core PCE QoQ
Initial Jobless Claims
Continuing Jobless Claims
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