Weekly Jobless Claims Fall To Lowest In 4.5 Years

jobs numbers claims unemployment

WASHINGTON, Oct 11 (Reuters) - The number of Americans filing new claims for unemployment benefits fell sharply last week to the lowest level in more than four and a half years, according to government data on Thursday that suggested improvement in the labor market.

Initial claims for state unemployment benefits fell 30,000 to a seasonally adjusted 339,000, the Labor Department said. It was the lowest number of new claims since February 2008. The prior week's figure was revised up to show 2,000 more applications than previously reported.

Economists polled by Reuters had forecast claims edging up to 370,0000 last week. The four-week moving average for new claims, a better measure of labor market trends, fell 11,500 to 364,000.

A Labor Department analyst said no states had been estimated for the latest report.

More: Surprising Six-Figure Jobs

Recent data on the U.S. labor market has been encouraging.

Employers added a modest 114,0000 jobs to their payrolls in September, but the unemployment rate dropped sharply to 7.8 percent, the lowest level since President Barack Obama took office.

Obama is in a tight fight with Republican challenger Mitt Romney less than a month before elections on Nov. 6, and the health of the labor market is an important factor for voters.

The claims report showed the number of people still receiving benefits under regular state programs after an initial week of aid fell to 3.27 million in the week ended Sept. 29, the latest data available.

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That Mitt Romney had a successful tenure as CEO of Bain Capital doesn’t mean he’ll be able to turn the economy around, according to an ex-Reagan budget director. Instead, he says, it’s just evidence that the financial system is rigged,

In an op-ed David Stockman argues that the Romney campaign’s refrain is “dead wrong\" -- the refrain being that the Republican candidate is prepared to help the sputtering U.S. economy because he transformed struggling companies and created jobs. Instead, Stockman says, it’s “crony capitalism” and central bank help that’s made gambling on failing companies a relatively safe bet.

“Mitt Romney was not a businessman,” he wrote. “He was a master financial speculator who bought, sold, flipped, and stripped businesses.”

October 15 2012 at 7:09 PM Report abuse -1 rate up rate down Reply

So when ROMNEY is in and the uncertainty of obastardcare is removed from the market through repeal... and DODDs Frank is repealed ... and companies begin to expand and bring their treasure back to the US... and HIRE, HIRE, HIRE... it will be interesting to see UNEMPLOYMENT RATE go into negative #s... beyond full employment as all the millions dropped from the count and rolls... will be back in and employed... wonder if that's ever come close to happening before????

October 15 2012 at 5:40 AM Report abuse -1 rate up rate down Reply

Yep... if you eliminate everyone from the "job market" or labor pool.... well, you have record setting LOW UNEMPLOYMENT... No one has a job... yet "no one is supposedly looking"....

October 15 2012 at 5:36 AM Report abuse rate up rate down Reply

This is junk. People do not have full-time jobs, most are working 2 to 3 jobs and anyone that hasn't found a job, well, unemployment has simply run out. They can't get it anymore. Fake article to say the least.

October 14 2012 at 11:10 PM Report abuse rate up rate down Reply

I'm tempted to drop AOL after all these years because of the Huffungton Post insulting my intelligence on a regular basis.not just lying,slanting, deceiving...perhaps Clooney was trying to shut you up.

October 12 2012 at 11:21 AM Report abuse +1 rate up rate down Reply


October 11 2012 at 8:56 PM Report abuse +3 rate up rate down Reply


October 11 2012 at 8:56 PM Report abuse +3 rate up rate down Reply
Robert & Lisa

Can't wait until Romney gets in there and gets the unemployment down to 4%.

October 11 2012 at 6:43 PM Report abuse +2 rate up rate down Reply

I just love this country... Here we have a person who without a doubt is guilty of murdering a bunch of people.
And yet we still feed this poor excuse of a human. And they worry about shaving his beard??
He should have had a nice necktie party long before this ever became an issue..

FORT BELVOIR, Va. — An Army appeals court in Virginia is questioning whether the Fort Hood shooting suspect can be forcibly shaved.

Judges on the U.S. Army Court of Criminal Appeals also delved Thursday into a claim by Maj. Nidal Hasan's (nih-DAHL' hah-SAHN') lawyers that the judge who issued the order is biased and should be replaced.

October 11 2012 at 5:31 PM Report abuse +3 rate up rate down Reply

people please relax, of course these numbers are correct. when welfare numbers go up, food stamp recepients go up you need case workers for the impending application boom when unemployment insurance runs out. these people fall off the unemployment rate( they dont count anymore) and go to welfare. so thats how obama is the job creator. and the factory of high paying jobs, wal-mart, is hiring for the holiday's. so how can obama loose next month. the numbers speak for themselves.

October 11 2012 at 5:16 PM Report abuse +2 rate up rate down Reply

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