ECONOMY

Unemployment Claims Drop Sharply: The Labor Department reported that the number of Americans filing new claims for unemployment insurance during Christmas week dropped sharply to the lowest level in nearly four years. An unexpectedly large decline of 40,000 claims brought the level for the week ended Dec. 26 to 291,000, the lowest since April, 1989. It followed a decrease of 29,000 the previous week and was the 10th drop in 14 weeks. During the latest week, nine states showed a decrease of 1,000 or more claims, led by California, with a decline of 11,930.