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Jobless benefit applications remain stubbornly high

The number of individuals filing for unemployment benefits last week dropped slightly from the week prior, though totals remain elevated. The week ending Dec. 19 showed an 89,000 decrease in initial claims, the first drop seen this month.

For the first time this month, the number of applications for unemployment benefits dropped nationwide.

Last week, claims decreased slightly to 803,000 from 892,000 the week prior; a 89,000 drop in claims.

Despite the promising decline, however small, claims remain high, an indication that the job market is still under stress. 

The latest report released by the U.S. Department of Labor on Wednesday reveals that the previous two weeks had shown increases in the number of individuals filing for unemployment.

The number of people continuing to receive traditional unemployment benefits also declined by 170,000 to a total of 5.3 million people.

That figure is down sharply from its peak of nearly 23 million in May. It means that some jobless Americans are finding jobs and no longer receiving aid. But it also indicates that many of the unemployed have used up their state benefits, which typically expire after six months.