There was a big drop in first-time filings for unemployment benefits last week.
The latest report from the Labor Department says there were 388-thousand new claims filed in the week ending on Christmas. It was a drop of 34-thousand claims from the week before. The total number of claims filed in the week ending December 18th, including continuing claims, was a little over four-point-one-million.
California reported the biggest drop in first-time claims for unemployment benefits. It credited the drop to a decrease in layoffs in the agriculture sector.