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News > Economy
Jobless ranks trimmed
December 24, 1998: 9:05 a.m. ET

Initial unemployment claims, 4-week average, continuing claims all fall
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NEW YORK (CNNfn) - U.S. jobless claims fell during the week ended Dec. 19, the U.S. Labor Department reported Thursday.
     Initial claims for unemployment compensation dropped to 287,000 from a revised figure of 300,000 registered in the prior week, according to Labor Department figures. First-time unemployment claims haven't been this low since July 26, 1997, when they hit 276,000.
     The jobless data handily beat estimates by analysts, who expected 309,000 new jobless claims to be filed for the week ended Dec. 19.
     The four-week moving average, seen as a more accurate indicator of employment trends, moved down to 307,250 from a revised 310,500 in the previous week.
     And continuing claims also declined, falling to 2,228,000 in the week ended Dec. 12 from 2,244,000 a week earlier.
     Soon after the jobless figures were released, the bond market relinquished some small early gains, with the benchmark 30-year U.S. Treasury bond trading down 11/32 for a yield of 5.198 percent. Back to top

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