Christmas Week: New Unemployment Claims Down More than Expected

More good news on the jobs front. For Christmas week, new claims for unemployment declined more than economists expected. The forecast was for a drop of about 2,000. The actual decrease was 34,000, reports The Wall Street Journal.

The largest drop was in trend-leader California where there were 7,656 fewer job cuts. Still stuck, though, is New Jersey. That state had the largest increase in new claims, with 5,235 filed, primarily the result of layoffs in construction, transportation, and manufacturing.