Jobless Claims Drop to Lowest Level Since October While Continuing Claims Rise
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Initial jobless claims fell by 19,000 to 202,000 in the week ending Dec. 9, the lowest level since mid-October and below economist estimates.
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The number of people already collecting jobless benefits rose by 20,000 to 1.876 million in the week ended Dec. 2.
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On an unadjusted basis, claims fell 46,316 to 248,299 in the latest week.
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Jobless claims are volatile this time of year and economists are cautious about interpreting the data.
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Stocks opened higher on Thursday after the Federal Reserve’s dovish meeting, while the 10-year Treasury yield fell to 3.947%.