Deficit Falls for Third Straight Month

[JLB]

http://www.nytimes.com/aponline/business/AP-Economy.html?hp&ex=1168491600&en=a20654ed353c3da2&ei=5094&partner=homepage

Filed at 8:47 a.m. ET.

WASHINGTON (AP) -- The U.S. trade deficit unexpectedly fell for a third straight month in November as exports of commercial airplanes and other products hit an all-time high and the bill for foreign oil declined to the lowest level in 16 months.

The Commerce Department reported Wednesday that the deficit fell by 1 percent to $58.2 billion in November, the lowest monthly total since July 2005. The deficit hasn't declined for three consecutive months since early 2003.

The November improvement came as a surprise. Analysts had forecast a slight increase from October's deficit of $58.8 billion.

[deconstruction]

Whew, 1% ! Now that is worth the cost of a weak dollar!?!

[JLB]

Falling is good no?

[iakona]

Only if it's you..

[JLB]

WASHINGTON (AP) -- The number of newly laid off workers filing claims for unemployment benefits fell sharply last week to the lowest level in nearly six months.

The Labor Department reported Thursday that applications for jobless claims dropped by 26,000 to 299,000 last week on a seasonally adjusted basis. It marked the first time jobless claims have fallen below 300,000 since the week of July 22.

The improvement was much better than the decline of 9,000 that analysts had been expecting and provided further evidence that the slowing U.S. economy has not begun to seriously affect the labor market outside of specific industries such as housing and auto manufacturing.

The four-week moving average for claims, which helps to smooth out week-to-week volatility, edged down to 314,750, the lowest level since early November.

The good news on jobless claims followed a report last week that employers added 167,000 new jobs in December, a better-than-expected showing which helped keep the unemployment rate steady at a 4.5 percent.