First-time Jobless Claims Near Five-year Low

CNNMoney informs MHProNews that first-time jobless claims fell to 335,000 for the week ending Jan. 12, falling to a near five-year low, and 37,000 less than the previous week, according to the Labor Dept. While economists had expected a reading of 370,000, they say it is a good sign but still only one week worth of data. The four week moving average fell by 6,750 to 359,250. On the flip side, continuing claims climbed from 3.1 million to 3.2 million for the week ending Jan. 5, 2013, higher than anticipated. In March 2009 initial claims peaked at 667,000.

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