New data from the U.S. Labor Department released on Thursday showed that applications for unemployment benefits fell broadly in line with forecasts during the week ending December 13.
According to the report, initial jobless claims dropped to 224,000, down by 13,000 from the prior week’s revised figure of 237,000. Economists had anticipated a modest decline to around 225,000, compared with the 236,000 initially reported for the previous week.
The report also noted that the four-week moving average, which helps smooth out week-to-week volatility, edged slightly higher. The average rose by 500 to 217,500, up from the prior week’s revised level of 217,000.