A government report released Thursday reveals new unemployment data indicating that the economy may be on the cusp of its first monthly gain in nearly two years. Last week, the number of people claiming unemployment benefits fell to its lowest point since July 2008. According to the latest released figures that figure barely moved this week.
The four-week claim average also fell to the lowest level since September of 2008. This marked the 18th week in a row that claims fell, this time to 450,250. Economists are viewing the proximity of the four-week first time claim average to 425,000 as an indicator that job creation will soon be on the rise.
A more complete analysis of the job market is due on Friday from the Labor Department, when the monthly job report for December will be posted. Economists have mixed predictions for the unemployment rate with many forecasting a 0.1 percent rise and the loss of 8,000 jobs but other imagine there has been marginal growth for the month. If the latter group are right, this would be the first month of net increases in 24-months.
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