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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology US jobless claims dip to 15-month low AFP - Friday, December 25 Send IM Story Print Unemployed talk with a prospective employer at a job fair organised by the Opportunities Industrialization Centers in Los Angeles on December 4. New US claims for jobless benefits dropped to the lowest level since September 2008, government data showed, in a fresh sign of optimism for a weak labor market. WASHINGTON (AFP) - – New US claims for jobless benefits dropped to the lowest level since September 2008, government data showed, in a fresh sign of optimism for a weak labor market. The seasonally adjusted initial claims in the week ending December 19 was 452,000, a decrease of 28,000 from the previous week's unrevised figure of 480,000, the Labor Department said in a report. It was much lower than the 470,000 figure expected by most economists. The four-week moving average, a less volatile indicator than the week-to-week figures, fell to 465,250 from the previous week's revised average of 468,000. The figures suggest the brutal pace of layoffs is easing as the economy pulls out of its worst recession in decades. The total number of Americans receiving unemployment benefits also fell. The Labor Department's figures showed the number of seasonally adjusted insured unemployment during the week ending December 12 was 5.076 million, a 127,000 drop from the preceding week's revised level of 5.203 million. Analysts cautioned that unemployment remained a key problem despite the decline in claims. "Although the decline in initial and continuing claims is a positive for the labor market, caution should be taken in reading too much into the decline, considering common holiday volatility," said Andrew Gledhill from Moody's Economy.com. The weekly report offers an up-to-date snapshot of the job market, critical to US economic recovery from recession. The US labor market witnessed a dramatic improvement in November as the number of jobs lost narrowed to 11,000 and the unemployment rate dipped to 10.0 percent, the government said. The US economy grew at a 2.2 percent pace in the third quarter, reversing four quarters of contraction. Yet many economists argue the recovery could be imperiled by high unemployment, limiting consumer incomes and hurting confidence and spending. Recommend Send IM Story Print News Search Top Stories Officials rap Eurostar, Eurotunnel over Channel shutdown US durable goods up 0.2%, led by computers US jobless claims dip to 15-month low Bethlehem fetes Christmas in the shadow of a wall Greek parliament adopts 2010 crisis budget More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Watchmaker 'stands with Tiger' amid new cheating reports British priest defends urging people to shoplift Parents in 'Balloon boy' hoax jailed European travellers battle new Christmas chaos British experts devise Christmas cracker formula More Most Viewed » Tiger's wife Elin seeking divorce: reports Century-old butter found in Scott's Antarctic hut Virgin unveils spaceship to offer space tourism Brazilian confesses to sticking needles into two-year-old Tiger Woods' girlfriend apologizes in TV interview More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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