Jobless Claims Fall to Lowest Level in Month but Four-Week Average Rises

Thursday, 06 Sep 2012 08:36 AM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink

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 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.

Editor's Note: Obama Donor Banned This Video But You Can Watch it Here

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 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 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. 

Editor's Note: Obama Donor Banned This Video But You Can Watch it Here

 

© 2014 Thomson/Reuters. All rights reserved.

  Comment  |
   Contact  |
  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.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Sony Hackers Taunt FBI, 'Congratulate' Its Success

Saturday, 20 Dec 2014 20:06 PM

A new message claiming to be from the group responsible for the Sony Pictures hack appears to mock the FBI, which named  . . .

US Turns to China to Help Stop NKorean Hackers

Saturday, 20 Dec 2014 19:42 PM

The Obama administration is seeking China's help in stopping North Korea from launching future cyber-attacks, the New Yo . . .

RNC to Theaters: 'We Cannot Be Bullied,' Show 'Interview'

Saturday, 20 Dec 2014 19:20 PM

The Republican National Committee is urging theater owners to play the The Interview following Sony's decision to pull . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

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