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US jobless benefits drop, yet remains high

US jobless benefits drop, yet remains high

The U.S. jobless claims weekly report showed a more than forecast drop last week, but the reading remains high compared to the week before the beginning of 2020.

Initial jobless benefits rose 803,000 in the week through December 19, compared to an upwardly revised of 892,000 a week earlier. That was better than forecasts of 882,000. Still, there are more than 20 million Americans are receiving jobless aids. 

Another report signaled a better than forecast increase in durable goods orders in November, as the reading registered a 0.9% increase, compared to estimates of 0.6% surge. October’s reading was revised up to 1.8%.

Personal spending dropped 0.4% in November, following a 0.2% fall a month earlier, defying estimates of a 0.3% rise.

As of 13:55 GMT, the dollar index traded lower at 90.30 after showing some improvement directly after the release of the data. 

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