Initial unemployment claims were well below.>

US DATA: Initial unemployment claims were well below expectations in the 

Dec 8 wk, -27k to 206k vs 227k expected, partially reflecting seasonal 

adjustment difficulties at this time of the year, but also suggesting 

some improvement after relatively elevated levels in recent weeks. 

Claims were rev up to 233k from 231k in Dec 1 wk. 

- NSA claims -57,427 to 260,508 in the current wk, below the 260,508 

level a year ago. The drop was larger than the 23,258 decline that 

seasonal factors expected. 

- The 4-wk moving avg -3,750 to 224,750 in the Dec 8 wk after four 

straight gains. The avg would fall further next week if there is no 

change from this week's headline figure as the 225k level in Nov 17 week 

rolls out.

- Continuing claims +25,000 to 1.661m in the Dec 1 wk, while the 4-wk 

avg +2,500 to 1.666m. The insured rate of unemployment rebounded to 1.2%

- Claims were estimated for Virginia.