The Wall Street Journal reports that first time unemployment claims:
… increased by 17,000 to a seasonally adjusted 298,000 in the week ended Dec. 27, the Labor Department said Wednesday. Economists surveyed by The Wall Street Journal had expected 290,000 new claims.
It is the first economic report in a while that is not glowing and full of promise. But it is also not one that economists find especially troubling. As Bloomberg reports:
The number of applications can fluctuate during this time of year as the holidays make it tough to adjust the data for seasonal variations. Employers are dismissing fewer workers and adding staff as household purchases pick up, driven by a drop in gasoline costs that will keep boosting the economic expansion.
So, happy new year, and party on.
