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"Claims are moving in the right direction"
- Aneta Markowska, a senior economist at Societe Generale
The number of Americans claiming for unemployment benefits dropped to 371 thousand in the week ended December 31 from 387 thousand the week before, said the Department of Labor on Thursday. Economists expected the number of claimants to decline to 375 thousand.
"Claims are moving in the right direction," said Aneta Markowska, a senior U.S. economist at Societe Generale in New York. "The labor market is pretty much treading water, but it's definitely not as far behind as last year."
"Certainly we're getting some more encouraging news on the jobs market, but we have to be very aware that it does reflect a very volatile period of the year -- the holiday season and the days following the new year," said Bernard Baumohl, chief global economist at Economic Outlook Group in Princeton, New Jersey.