Jobless insurance claims drop to lowest levels since 2008
The number of applications for jobless benefits averaged 431,000 a week over the month ended Nov. 27, according to the U.S. Labor Department.
That was the lowest level since August 2008.
“Lower lows and lower highs define a downward trend, and that’s what seems finally to be emerging,” said Ian Shepherds, chief U.S. economist at High Frequency Economics LLC in Valhalla, N.Y., in a note to clients obtained by Bloomberg.
Bloomberg expects unemployment numbers, announced tomorrow, to hold steady at 9.6 percent.
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