U.S. Initial Jobless Claims At 388.000; Down 33.000
(For The Week Ending December 24, 2010)
Initial jobless claims in the U.S. were reported right at 388.000 vs. 415.000 consensus; last week revised (up 2.000) reading was at 422.000.
First reading bellow 400.000 since July 2008; The part of the reduction probably comes from seasonal effects (it is hard to seasonally adjust the data accurately on holiday weeks), so we have to wait for a confirmation of a positive trend after holidays pass.
Chart 1. U.S. Initial Jobless Claims
