Jobless Claims Fall for Second Consecutive Week

Thursday, 28 Aug 2014 10:34 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

The number of Americans filing new claims for unemployment benefits fell for a second straight week last week, underscoring the strengthening labor market fundamentals.

Initial claims for state unemployment benefits slipped 1,000 to a seasonally adjusted 298,000 for the week ended Aug. 23, the Labor Department said on Thursday.

Claims for the prior week were revised to show 1,000 more applications received than previously reported.

Economists polled by Reuters had forecast claims climbing to 300,000 last week. A Labor Department analyst said there were no special factors influencing the state level data.

The four-week average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 1,250 to 299,750, pointing to sturdy job gains and an economy that is growing above its potential.

Job growth has topped 200,000 for six consecutive months, a stretch last seen in 1997, while the economy expanded at a 4.2 percent annual pace in the second quarter.

The jobless claims report showed the number of people still receiving benefits after an initial week of aid increased 25,000 to 2.53 million in the week ended Aug. 16.

The so-called continuing claims covered the period the government samples households to calculate the unemployment rate for August. Continuing claims increased 19,000 between the July and August household survey weeks, suggesting little change in the jobless rate, which was at 6.2 percent last month.

The unemployment rate for people receiving jobless benefits was 1.9 percent for the seventh consecutive week.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Manufacturing Cools From Strongest Pace in Three Years

Wednesday, 01 Oct 2014 10:16 AM

Manufacturing cooled in September following the strongest rate of growth in three years as U.S. factories settled into a . . .

NY Times to Slash 100 Newsroom Jobs in Streamlining

Wednesday, 01 Oct 2014 10:02 AM

The New York Times said Wednesday it plans to cut 100 newsroom jobs in the latest move by the prestigious daily to adapt . . .

Patrick Watson: Is Apple Un-American for Resisting NSA?

Wednesday, 01 Oct 2014 08:42 AM

Some 10 million Apple fans, including this writer, queued up last month to buy Apple's (AAPL) new iPhone 6. It was a pea . . .

Most Commented
Top Stories

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved