Dan Bongino: The number of Americans submitting claims for unemployment benefits fell by more than expected last week.
“Initial claims for state unemployment benefits fell 17,000 to a seasonally adjusted 216,000 for the week ended Jan. 5, the Labor Department said on Thursday. Data for the prior week was revised up to show 2,000 more applications received than previously reported,” Reuters writes.
That the news could indicate “a strengthening labor market that could further ease concerns about the economy’s health.”
Economists had predicted that claims would only decline to 225,000 last week.
The news comes on the heels of last week’s great economic report on December job growth, which saw 312,000 new nonfarm payroll jobs added.
Wages also jumped 3.2 percent from 2017 and .4 percent over November. MORE