Highlights
Jobless claims were little changed in the Dec. 22 week, up 1,000 to 349,000 and a level that will raise talk of rising unemployment and slowing payroll growth. The four-week average, important to look at during shortened holiday weeks, is showing a little less softness, down slightly to 342,500. Continuing claims have been clearly showing softness, rising three straight weeks and at a multi-year high of 2.713 million. The 2.713 million level compares with 2.659 million in the Nov. 17 week, a comparison of survey periods for the monthly BLS household survey and offering a hint that the unemployment rate may tick higher in next week's employment report for December. Whether the economy slips into recession next year could very well pivot on the health of the labor market.