Jobless Claims, Consumer Spending Drop

NEW YORK, NY (Newsource) — Jobless claims have fallen to their lowest level since September. 

Data released Thursday shows the number of people seeking unemployment benefits for the first time dropped to 211,000 from the previous week. 

That’s 20,000 fewer claims when economists were expecting claims to rise. 

Consumer spending has also fallen. In November, U.S. retail sales dropped by six-tenths of a percent, according to the Commerce Department. 

A sign that consumers are pulling back on spending amid continued inflation woes. 

It’s the sharpest decline in spending all year. Economists were predicting a drop of just point-one percent.