The DOL reported:
In the week ending December 25, the advance figure for seasonally adjusted initial claims was 198,000, a decrease of 8,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 205,000 to 206,000. The 4-week moving average was 199,250, a decrease of 7,250 from the previous week’s revised average. This is the lowest level for this average since October 25, 1969 when it was 199,250. The previous week’s average was revised up by 250 from 206,250 to 206,500.
emphasis addedThe following graph shows the 4-week moving average of weekly claims since 1971.
The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims increased to 206,000.
The previous week was revised up.
Regular state continued claims decreased to 1,716,000 (SA) from 1,856,000 (SA) the previous week.
Weekly claims were below the consensus forecast.