The number of people who applied for U.S. unemployment benefits fell by 6,000 to 289,000 in the seven days ended Dec. 13, keeping initial jobless claims at a low level typically associated with strong hiring. Economists polled by MarketWatch had expected claims to total a seasonally adjusted 295,000. Initial claims are often quite volatile in the period stretching from Thanksgiving until the end of January because of the holiday season and poor weather. The average of new claims over the past month, meanwhile, dipped by 750 to 298,750, the Labor Department said Thursday. The four-week average smoothens out seasonal volatility in the weekly report and is seen as a more accurate predictor of labor-market trends. Also, the government said continuing claims sank by 147,000 to a seasonally adjusted 2.37 million in the week ended Dec. 6. Continuing claims, which reflect the number of people already receiving benefits, are hovering near a 14-year bottom.
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