US Weekly Jobless claims fall to 7-week low

FXStreet (Mumbai) - The labor department data released today showed the weekly initial jobless claims fell to a 7-week low during the week ended Dec. 20.

Initial claims for state unemployment benefits dropped 9,000 to a seasonally adjusted 280,000; a fourth straight week of declines in claims. Reuters poll had a forecast of claims ticking up to 290,000 last week. More importantly, analysts said there were no special factors influencing last week's claims data.

Moreover, the four-week moving average of claims, a better indicator of labor market trends, declined by 8,500 to 290,250 last week.