Jobless Claims Decline 15,000 to End Year in Positive Sign for Job Market

In the last week of 2011, the number of Americans filing for first time unemployment benefits was 372,000, a decline of 15,000 from the previous week, the Labor Department announced. The four-week moving average, a less volatile number that flattens out week-to-week fluctuations in the data, was 373,250, a decrease of 3,250 from the previous week’s revised average of 376,500, and the lowest level since June 2008. Economists say that between 350,000 and 375,000 indicates sustained job growth that could reduce the unemployment rate.The number of Americans filing for continuing unemployment claims during the week ending Dec. 24 was 3,595,000, a decrease of 22,000 from the preceding week. The four-week moving average was 3,601,750, a decrease of 1,000 from the prior week. States reported 2,932,561 persons claiming emergency unemployment benefits for the week ending Dec. 17 (the most recent data available), an increase of 6,426 from the previous week.The total number of people claiming benefits in all programs for the week ending Dec. 17 was 7,223,203, a decrease of 8,311 from the previous week. The largest increases in initial claims for the week ending Dec. 24 were in California, Indiana, Kentucky, Michigan, and Pennsylvania. The largest decreases were in Georgia, Louisiana, Puerto Rico, South Carolina, and Texas.