Jobless claims dip to 330K, in line with consensus

Filed under: Economic data, Federal ReserveFirst-time claims for unemployment benefits fell 11,000 last week to 330,000 -- in line with the consensus estimate, the U.S. Labor Department announced Wednesday. Meanwhile, the more-telling four-week moving average fell 750 to 329,750, the Labor Department reported. One year ago, new claims for unemployment insurance totaled 322,000. An average of 2.57 million Americans are receiving state jobless benefits, also called continuing claims; a year ago about 2.43 million Americans were receiving benefits. The U.S. jobless rate is at 4.7%, and many economists expect it to climb slightly on soft Q4 GDP growth. The U.S. economy recorded Q3 GDP growth of 3.9%, with many economists projecting a Q4 GDP growth rate in the 1.5-2.2% range.Continue reading J