Thursday, December 7, 2006

Weekly Unemployment Claims Drop

From the Department of Labor

In the week ending Dec. 2, the advance figure for seasonally adjusted initial claims was 324,000, a decrease of 34,000 from the previous week's revised figure of 358,000. The 4-week moving average was 328,750, an increase of 3,500 from the previous week's revised average of 325,250.

Last week there was a large jump in claims, largely as the result of construction lay-offs in several states. This week the massive construction lay-offs are absent.

The 4-week moving average still increased by 3500, but that is to be expected considering last week's jump.