Economic Buzz: US unemployment claims decrease to 199,000

First-time claims for U.S. unemployment benefits unexpectedly dipped in the week ended December 27th, according to a report released by the Labor Department on Wednesday.

The report said initial jobless claims fell to 199,000, a decrease of 16,000 from the previous week's revised level of 215,000.

Meanwhile, the Labor Department said the less volatile four-week moving average inched up to 218,750, an increase of 1,750 from the previous week's revised average of 217,000.

The report said continuing claims, a reading on the number of people receiving ongoing unemployment benefits, slid by 47,000 to 1.866 million in the week ended December 20th.

The four-week moving average of continuing claims fell to 1,873,500, a decrease of 17,750 from the previous week's revised average of 1,891,250.

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