Jobless Claims Post Surprise Drop; Seasonality at Play

(From CNBC.com) The number of U.S. workers filing new applications for jobless benefits fell last week to the lowest level in about 17 months, suggesting the economy might be on the cusp of job creation.

 Initial claims for state unemployment benefits fell by 22,000 to a seasonally adjusted 432,000 in the week ended Dec. 26, from 454,000 in the prior week, initially reported as 452,000, the Labor Department said.

Economists polled by Reuters expected 460,000 new claims in the latest week.

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