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Jobless claims drop
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November 24, 1999: 9:04 a.m. ET
First-time filers slip to 274,000; continued claims lowest since December 1988
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NEW YORK (CNNfn) - The number of Americans filing first-time claims for state unemployment benefits fell to 274,000 for the week ended Nov. 20, a government report indicated Wednesday.
The figure was down from 287,000 the week before, the Labor Department said. Economists had anticipated that the latest week would be unchanged from that level.
The four-week moving average, which generally provides a more accurate picture of jobless trends, was 286,250, down from a revised 287,500 the week prior.
New claims have been hovering near or below the 300,000 mark since mid-January, a level consistent with a tight job market.
Continued claims dropped to 2,052,000 for the week ended Nov. 13, the latest data available, from a revised 2,167,000 the prior week. The continued claims level is the lowest since the 2,024,000 for the week ended Dec.10, 1988.
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