Jobless Claims Drop To Lowest In A Month

unemployment claims jobless benefits

WASHINGTON -- The number of Americans filing new claims for jobless benefits fell last week to its lowest level in a month, an upbeat signal for a labor market that has struggled to create enough jobs.

Initial claims for state unemployment benefits dropped by 12,000 to a seasonally adjusted 365,000, the Labor Department said on Thursday.

It was the first drop in new claims since the week that ended Aug. 4 and the lowest level since then as well.

Economists polled by Reuters had forecast claims dipping to 370,000 last week. The prior week's figure was revised up to show 3,000 more applications than previously reported.

However, the four-week moving average for new claims, a better measure of labor market trends, edged up to 371,250.

A Labor Department official said there was nothing unusual in the data and no sign that Hurricane Isaac affected the level of claims. The storm hit the U.S. Gulf Coast last week, disrupting business at the region's ports, airports and oil refineries.

The report has no direct bearing on Friday's monthly employment report for August, which is expected to show nonfarm payrolls rose by a modest 125,000 last month, while the unemployment rate is seen as staying the same at 8.3 percent.

The state of the labor market, particularly the unemployment rate, could determine whether the Federal Reserve will offer additional monetary stimulus to the economy at its Sept. 12-13 policy meeting.

The unemployment rate has been stuck above 8 percent for more than three years.

Although housing and retail sales data suggest that economic activity picked up early in the third quarter, business spending is weakening and inflation is slowing.

In the week ended Aug. 25, the number of people still receiving benefits under regular state programs after an initial week of aid fell to 3.322 million, the Labor Department said.


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Solomon

Economists polled by Reuters had forecast claims dipping to 370,000 last week. The prior week's figure was revised up to show 3,000 more applications than previously reported...AS STATED ABOVE in article.........................

Unemployment Claims Report wrong again. Read what was written in the above article. This is the story of Obama. Obama is a lie. His staff is filled with criminals. And you Joe Biden's state. Is this who you want to lead our country ??

September 07 2012 at 10:10 PM Report abuse rate up rate down Reply
Solomon

How can the President and Vice President of the United States look intoo the eyes of Americans and FLAT OUT...LIE.

September 07 2012 at 9:49 PM Report abuse rate up rate down Reply
Solomon

Job claims reduction % does not reflect the 360,000 people that have quit looking for jobs.

September 07 2012 at 9:45 PM Report abuse rate up rate down Reply
nerak2822

lowest......in a MONTH?? After years over 8%. A TREND?? hahahha

September 06 2012 at 8:15 PM Report abuse rate up rate down Reply
merle the pearle

Good news the romney campaign gotta love it!

September 06 2012 at 7:31 PM Report abuse rate up rate down Reply
1 reply to merle the pearle's comment
godtalk3

Don't get too cozy with it. Large food market Albertsons just announced the closure of 19 major Southern Calif stores putting another 8000-9000 employees out of work in the next 3 months. This isn't counting the other companies that did business with them. The trucking companies that delivered to them. The income loss of the cities from state taxed normally collected from the sales they generated. Ect Ect....

September 06 2012 at 10:48 PM Report abuse rate up rate down Reply
investrman

1. Wait for revision next week.

2. MIllions are now off their 99 weeks and are not counted.

3. Those working part time are not counted or through temp agencies which is the biggest employer here in NC.

4. Obama's people are trying to spin "we built employment through our policies" up to his election- but the truth always comes out....

September 06 2012 at 7:28 PM Report abuse rate up rate down Reply
1 reply to investrman's comment
Linda

You said exactly what I have been saying that they are not counting the ones that have exhausted their unemployment.

September 07 2012 at 11:03 AM Report abuse rate up rate down Reply
seedykay

Just means people have run out of their benefits not necessarily that they got a job.

September 06 2012 at 6:01 PM Report abuse +1 rate up rate down Reply
2 replies to seedykay's comment
paul58ca

Try reading the first paragraph. It says NEW CLAIMS.

September 06 2012 at 7:04 PM Report abuse rate up rate down Reply
godtalk3

Its OK NEW ONE are coming. Don't get too cozy with it. Large food market Albertsons just announced the closure of 19 major Southern Calif stores putting another 8000-9000 employees out of work in the next 3 months. This isn't counting the other companies that did business with them. The trucking companies that delivered to them. The income loss of the cities from state taxed normally collected from the sales they generated. Ect Ect....

September 06 2012 at 10:50 PM Report abuse rate up rate down Reply
Jeff W.

Great news!

September 06 2012 at 9:28 AM Report abuse rate up rate down Reply

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