(Bloomberg) — Fewer Americans than forecast filed applications for unemployment benefits last week, a sign the job market is making progress as the year ends.
Jobless claims dropped by 9,000 to 280,000 in the week ended Dec. 20, the fewest since early November, from 289,000 in the prior period, a Labor Department report showed today in Washington. The median forecast of 47 economists surveyed by Bloomberg called for 290,000. No states estimated data and there was nothing unusual in the report, a spokesman said as the figures were released.
Rising demand is encouraging businesses to hold the line on dismissals and take on more workers. Better job prospects and cheaper fuel costs signal consumer spending, the biggest part of the economy, will provide another boost to the expansion this quarter following growth from July through September that was the strongest in more than a decade.
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