Hopeful Sign? U.S. Unemployment Claims Fall To 2 Month Low

jobless claims


WASHINGTON -- The number of Americans filing new claims for jobless benefits fell last week to the lowest level in two months, a hopeful sign for a labor market that has struggled to gain traction in recent months. Initial claims for state unemployment benefits dropped 26,000 to a seasonally adjusted 359,000, the lowest level since July, the Labor Department said on Thursday. The prior week's figure was revised up to show 3,000 more applications than previously reported.

Economists polled by Reuters had forecast claims falling to 378,000 last week. The four-week moving average for new claims, a better measure of labor market trends, fell 4,500 to 374,000, breaking five straight weeks of increases.

A Labor Department official said there were no special factors influencing the report and no states had been estimated. The labor market has been mired in weakness as worries about higher taxes and deep government spending cuts in January, the ongoing debt problems in Europe and slowing global growth lead employers to be cautious about ramping up hiring.

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Sluggish job gains and stubbornly high unemployment spurred the Federal Reserve this month into launching a third round of bond purchases to drive down already low interest rates. The U.S. central bank vowed to buy $40 billion worth of mortgage-backed securities each month until it sees a sustained upturn in the labor market.

The unemployment rate has been stuck above 8 percent for more than three years, the first time this has happened since the Great Depression, a hurdle for President Barack Obama's quest for a second term in office.

The claims report showed the number of people still receiving benefits under regular state programs after an initial week of aid fell 4,000 to 3.27 million in the week ended Sept. 15. The so-called continuing data covered the week for the household survey from which the unemployment rate is derived.



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stardustladybug

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I know SO many people who ARE actually working, AND collecting unemployment, and getting all kinds of assistance...such as HEEP, foodstamps, medicaid, free school lunch, WIC, and because they are working UNDER THE TABLE, they don't even pay taxes. So, they get to keep all their money (ie. no fica, etc.) and get all kinds of stuff for free....well guess what...it's NOT FREE...and I am getting seriously pissed off...cuz I pay taxes, and I get nothing for free....all the people out there who are not paying their share are being unconstitutional...and don't tell me to report them ...cuz I have,....and guess what...it changed NOTHING....the tax payers in this country are getting raped.....doesn't ANYONE HAVE INTEGRITY ANYMORE....how DO those people look at themselves in the mirror....I could get a second job in one day if I could physical stand to work even more to pay for all the freeloaders out there....there are jobs out there, i see wanted signs every single day...if you're NOT PAYING TAXES you are part of the problem.

October 05 2012 at 4:09 PM Report abuse rate up rate down Reply
spike

Job market shows signs of strength and republicans are just sick about it.

September 29 2012 at 4:49 PM Report abuse rate up rate down Reply
alfredschrader

3.7 million Americans out of work. A ruined US Credit rating - never has it been down graded, not even during the Great Depression of 1929-35. Us Americans have no control over the economy. The people who do are in the White House which has become a Vacation Travel Agency. PLEASE vote for someone new to fix this.
I just registered to vote with a new party, I call it the Online Party, they are better informed.

September 29 2012 at 5:30 AM Report abuse +1 rate up rate down Reply
alfredschrader

3.7 million Americans out of work. A ruined US Credit rating - never has it been down graded, not even during the Great Depression of 1929-35. Us Americans have no control over the economy. The people who do are in the White House which has become a Vacation Travel Agency. PLEASE vote for someone new to fix this.
I just registered to vote with a new party, I call it the Online Party, they are better informed.

September 29 2012 at 5:30 AM Report abuse rate up rate down Reply
alfredschrader

3.7 million Americans out of work. A ruined US Credit rating - never has it been down graded, not even during the Great Depression of 1929-35. Us Americans have no control over the economy. The people who do are in the White House which has become a Vacation Travel Agency. PLEASE vote for someone new to fix this.
I just registered to vote with a new party, I call it the Online Party, they are better informed.

September 29 2012 at 5:26 AM Report abuse rate up rate down Reply
goatcars

Unemployment over 8% fo almost four years and THIS is a sign of some sort??? GET REAL !!!!!!!!!!!!!!!

September 29 2012 at 2:13 AM Report abuse +2 rate up rate down Reply
vtmilitia

So this makes the minimal economic growth OK?

September 28 2012 at 8:16 PM Report abuse +3 rate up rate down Reply
Pinot Man

WHY ARE YOU BLOCKING ME??????????????????????????????????????????????????

September 28 2012 at 5:42 PM Report abuse -1 rate up rate down Reply
Pinot Man

AND IF YOU BUY THIS WE HAVE LAND UNDER WATER TO SELL. WHAT GARBAGE AND ITS TOO BAD YOU BEWLEIVE THIS!NOW THE OBUMA PEOPLE LOANED ANOTHE SOLAR PLANT $200 MILLION OF OUR DOLLARS! WHEN WILL THIS ONE GO BK? AND WHERE IS THE MONEY FROM SOLNDRYA BEING HIDDEN? WHAT BANK OR OFF SHORE ACCT AND UNDER WHOSE NAME OBUMA?? LOTS OF QUESTIONS, NO ANSWERS, WHY?????????????????????????????

ARE YOU BETTER OFF TODAY THAN FOUR YEARS AGO? OR ARE YOU BETTER OFF WITH A 50% MORE DEBTIN YOUR HOUSE HOLS??? NEED ANSWERS

September 28 2012 at 5:39 PM Report abuse +3 rate up rate down Reply
JimB

Sure UNEMPLOYMENT WENT DOWN, their limit was met ...... They are still looking for work but the U.S. Government does not count them any more ...... Want to bet how many who claimed were ILLEGALS and NOT Entitled to unemployment .....

September 28 2012 at 5:34 PM Report abuse +5 rate up rate down Reply

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