MW: Initial jobless claims fall 21,000; trend at 26-year high
WASHINGTON (MarketWatch) -- First-time claims for state unemployment benefits dropped 21,000 to 554,000 in the week ended Dec. 13, easing back part of a surge in the prior week, the Labor Department reported Thursday. Still, the four-week average of those claims rose 2,750 to 543,750 - the highest level since December 1982, and initial claims are not expected to drop again until mid-January, according to the Labor Department. For the week ended Dec. 6, the number of Americans continuing to collect benefits fell 47,000 to 4.38 million. The four-week average of continuing claims rose 92,000 to 4.23 million -- the highest since January 1983. Compared with the same week a year ago, new jobless claims are up about 59%, while continuing claims are up 66%.
