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Last Update: 16-Feb-12 10:48 ET
Initial Claims Fall to their Lowest Level Since March 2008
The initial claims level declined from 361,000 for the week ending February 4 to 348,000 for the week ending February 11. That is the lowest initial claims level since March 2008. The Briefing.com consensus expected the initial claims level to increase to 365,000.
The four-week moving average reached 365,250 this week, its lowest level since April 2008.
The initial claims level has been on a steady downward trend since the beginning of January. That trend, combined with the recent pickup in hiring, provides strong evidence that the labor market recovery is picking up steam.
The continuing claims level declined from 3.526 mln for the week ending January 28 to 3.426 mln for the week ending February 4. The consensus expected the continuing claims level to fall to 3.505 mln.
The four-week moving average reached 365,250 this week, its lowest level since April 2008.
The initial claims level has been on a steady downward trend since the beginning of January. That trend, combined with the recent pickup in hiring, provides strong evidence that the labor market recovery is picking up steam.
The continuing claims level declined from 3.526 mln for the week ending January 28 to 3.426 mln for the week ending February 4. The consensus expected the continuing claims level to fall to 3.505 mln.
