US jobless claims fall contrary to expectations

The number of unemployment benefit applications in the US fell last week, defying expectations and signaling continued strength in the labor market of the world’s largest economy.

Data released Wednesday by the US Labor Department showed that initial unemployment claims fell by 10,000 from the previous week to 214,000 for the week ending December 20, contrary to expectations of stability.

Meanwhile, the four-week moving average of claims—a more reliable indicator of labor market trends—fell by 750 to 216,750, down from 217,500 the previous week.

The report was issued one day earlier than usual due to the Christmas holiday.