The weekly initial jobless claims reports actually measure firings. The numbers decline as more new jobs are created.
 
Consistently fewer firings along with consistent job growth are the two ingredients that will lead to faster economic growth.
 
The report also shows the number of people continuing to receive unemployment benefits. The January 10 report reflected the highest number since January 2011.
 
It does not reflect the number of people receiving extended benefits under federal programs.
 
The unemployment rate among those who are eligible for benefits dropped 2.4% during the
week ended December 29, the lowest drop since July 2008.
 
Thirty states and territories saw claims increase while 23 saw them decline. The data reported lag by one week.

 

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