Submitted by Fox First at Ten on December 27th
By The Associated Press
FEWER SEEK JOBLESS AID: Applications for U.S. unemployment benefits dropped last week by 12,000 to a seasonally adjusted 350,000, the Labor Department said Thursday. The four-week average fell to 356,750, the lowest since March 2008.
HOLIDAY DISTORTIONS: The Christmas holiday may have distorted the figures. Many state unemployment offices were closed Monday and Tuesday and could not provide exact data. That forced the government to rely on estimates for 19 states, an unusually high number.
HIRING LIKELY STEADY: Economists were mildly encouraged by the decline but cautioned that the figures are volatile around the holidays. Most expect employers added 150,000 jobs this month, matching this year's average monthly pace.
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