Claims Calm Down

Initial Jobless Claims Drops

The Labor Department’s report on initial jobless claims – people filing for unemployment – showed a decrease of 23,000 to 369,000 for last week. The four-week moving average of claims, which is less volatile than the week-to-week number, moved to 368,000, an increase of 1,500 from last week’s average of 366,500. The four-week moving average is down more than 32,000 from this time last year, when it hit 400,750.