The data from
the Labor Department revealed on Thursday the number of applications for
unemployment decreased more than forecast last week.
According to the report, the initial claims for unemployment benefits fell by 75,000 to 712,000 for the week ended November 28.
Economists had expected 775,000 new claims last week.
Claims for the prior week were revised upwardly to 787,000 from the initial estimate of 778,000.
Meanwhile, the four-week moving average of claims dropped to 739,500 from an upwardly revised 750,750 in the previous week.
Continuing claims declined to 5,520,000 million from an upwardly revised 6,089,000 in the previous week.
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