U.S. Jobless Claims Dropped to 224,000, Unemployment Rate Held Steady

U.S. initial jobless claims fell to 224,000 in the week ending December 13, down 13,000 from the previous week. The previous week’s level was revised upward by 1,000 to 237,000. The 4-week moving average rose to 217,500. The insured unemployment rate remained steady at 1.2% for the week ending December 6. The number of people claiming benefits increased to 1,897,000, an increase of 67,000, while the insured unemployment rate held steady at 1.2%. Unadjusted initial claims dropped to 255,012, plunging nearly 19% from the prior week. Total continued weeks claimed for benefits across all programs rose to 1,993,823. The largest increases in claims were in California (+14,258), Illinois (+11,074) and New York (+10,346).