Jobless claims lowest since January
The government says first time claims for unemployment benefits fell more than expected last week to 502,000.
The number of Americans filing first-time claims for unemployment insurance fell last week to their lowest level this year, the government said Thursday.
There were 502,000 initial job claims filed in the week ended Nov. 7, down from an upwardly revised 514,000 the previous week, the Labor Department said in a weekly report. It was the fewest number since the week ended Jan. 3, when 488,000 initial claims were filed.
The tally was also smaller-than-expected. A consensus estimate of economists surveyed by Briefing.com
The 4-week moving average of initial claims was 519,750, down 4,500 from the previous week’s revised average of 524,250.
The government said 5.63 million people filed continuing claims in the week ended Oct. 31, the most recent data available. That was down 139,000 from the preceding week’s revised 5.77 million claims.
The 4-week moving average for ongoing claims rose/fell by 100,750 to 5.79 million.
Last week, the government said the nation’s unemployment rate rose to 10.2%, marking its highest level since April 1983.
source: source:money.cnn
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