The data from
the Labor Department revealed on Wednesday the number of applications for
unemployment benefits fell more than expected last week, but the underlying
trend suggested some softening in labor market conditions.
According to
the report, the initial claims for unemployment benefits decreased by 15,000 to
a seasonally adjusted 213,000 for the week ended November 23.
Economists had
expected 221,000 new claims last week.
Claims for the
prior week were revised upwardly to 228,000 from the initial estimate of 227,000.
Meanwhile, the
four-week moving average of claims dropped by 1,500 to 219,750 last week.