Reply #13: Weekly U.S. jobless claims rebound [View All]

[UpInArms]

http://cbs.marketwatch.com/news/story.asp?guid=%7B51E3C6B0%2D9D82%2D4915%2DBABA%2D20C0E1C6ABAF%7D&siteid=mktw

WASHINGTON (CBS.MW) -- First-time claims for state unemployment benefits rebounded after chalking up the largest weekly decline seen in three years, the Labor Department reported Thursday.

The number of initial claims filed in the week ended Dec. 18 rose 17,000, reaching 333,000.

The increase was in line with the consensus forecast of Wall Street economists.

Claims in the previous week were revised to a decrease of 45,000 to 316,000, compared with a fall of 43,000 to 317,000 that was initially estimated. This was the largest decline in claims since December 2001.

Meanwhile, the four-week average of initial claims rose to 340,000, up by 2,250.

The four-week average is considered a better gauge of the underlying trend in employment because it smoothes out distortions caused by holidays and other one-time factors.

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