U.S. Jobless Claims Defies Expectations to Close Lower at 803,000

The number of initial claims for the week ending December 19 came at 803,000, down from the previous 892,000, according to the Department of Labor press release. The jobless claims were better than expected 888,000. 

• The previous week’s initial jobless claims were revised up by 7,000 from 885,000 to 892,000
• Continuing claims fell to 5.3 million for the week ending December 12, down from 5.5 million the previous week.
• The previous week’s continuing claims were revised down by 1,000 from 5.508 million to 5.507 million.
• The 4-week moving average was 818,250, up by 4,000 from the previous week’s revised average.
• Unadjusted actual claims under state programs came at 869,398, down by 7.7% from the previous week.
• In all, 20.4 million Americans were receiving some kind of unemployment benefits through December 5
• The jobless claims fall come at a time the U.S. Congress passed the much-awaited $900 billion relief package, and Democrats expect to advocate for more aid.

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