Weekly Jobless Claims Drop

Jobless claims are down 42,000 to a seasonally adjusted 338,000, the largest drop since November 2012.

Claims had jumped 75,000 over the two weeks that ended Dec. 14 before plunging last week. The Labor Department struggles to account for seasonal hiring by retailers and other businesses and for temporary layoffs of cafeteria workers and other employees at schools that close for the holidays.

Unemployment claims are a proxy for layoffs and the recent declines are consistent with a solid job market.

 

By: Alan

Alan Colmes is the publisher of Liberaland.