US: Initial jobless claims drop to 235,000 during last week of 2016

Initial jobless claims in the US fell by 28,000 to a seasonally adjusted 235,000 in the week ended Dec. 31, the Labor Department said Thursday.

That was the lowest level since mid-November and the second lowest since late 1973. Analyst’s expectations were for 260,000 claims last week.

Meanwhile, continuing jobless claims increased 16,000 to  2.112 million in the week ended Dec. 24.