Jobless Claims Hold Steady

The 4-week moving average for initial jobless claims is at its lowest point since September of last year, according to data from the Labor Department reported today.

The number of people filing for state jobless benefits for the week ending January 2, 2010 is 434,000, up 1000 from the prior week.

The data is further evidence that the pace of job layoffs is slowing, but whether this translates into new jobs for the US labor market remains to be seen.