U.S. Dept. of Labor: Jobless claims drop by 3,000

The U.S. Labor Market remains tight— first-time weekly jobless claims dropped by 3,000 last week.

COLUMBIA, S.C. (WOLO)— The U.S. Labor Market remains tight— first-time weekly jobless claims dropped by 3,000 last week.

According to the Department of Labor, first-time unemployment insurance claims dropped to 192,000.

That’s better than the 200,000 economists were expecting. Continuing claims filed by people who have received unemployment benefits for more than one week, were also down.

Meanwhile, the Commerce Department reported today the U.S. economy grew less in the fourth quarter than previously believed.

The annual growth rate in the final three months of last year was 2.7%, not 2.9%