WASHINGTON, Dec. 30 (UPI) — The U.S. Department of Labor said Thursday first-time claims for jobless benefits dropped to the lowest level since July 2008.
That was the last time initial claims were under 400,000. In the week ending Dec. 25, first-time claims for unemployment benefits fell by 34,000, pushing the week’s total to 388,000.
The four-week rolling average of initial unemployment benefit claims also dropped, declining by 12,500 to 414,000.
Nationwide, the unemployment rate jumped from 9.6 percent to 9.8 percent in November as an increase in jobs failed to match the increased size of the workforce.
The Labor Department said the biggest increases in claims for the week ending Dec. 18 were reported by New Jersey with 5,235 additional claims, Michigan, which added 3,085 and Missouri, which added 2,404.
For the week ending Dec. 18, the biggest decrease was reported by California with a decline of 7,656, followed by Illinois with a decline of 3,149 and Georgia with a decline of 1,935.
Still pathetic! 414,000 is still close to a half million new claims and the part they leave out is…. What about all the people who are unemployed who have fallen off the charts.