U.S. applications for jobless claims for the week ending Dec. 27 fell by 16,000 to 199,000 from the previous week’s 215,000, the Labor Department reported Wednesday. Analysts surveyed by the data firm FactSet forecast 208,000 new applications.
Unemployment benefit filings are often distorted during holiday-shortened weeks. The shorter week can cause some who have lost jobs to delay filing claims.
The weekly report was released a day early due to the New Year’s Day holiday.
Applications for unemployment aid are viewed as a proxy for layoffs and are close to a real-time indicator of the health of the job market.