Thursday, May 10, 2007

Jobless claims at lowest level since Jan.


Government reports unexpected drop of 9,000 in latest week


WASHINGTON - The number of U.S. workers filing new claims for jobless benefits fell unexpectedly by 9,000 to the lowest level of claims since mid-January, a Labor Department report showed on Thursday.

Initial filings for state unemployment insurance claims slid to 297,000 in the week ended May 5 from an upwardly revised 306,000 the prior week.

There were no special factors behind the drop in new claims, a Labor Department analyst said. The last time new claims were this low was in the week ended January 13, when they totaled 287,000.

Analysts polled by Reuters were expecting a rise of 10,000 in new claims from the initially reported 305,000 in the week ended April 28.

A four-week moving average of claims, which smoothes weekly volatility to provide a better sense of underlying job-market trends, slipped to 317,250 in the latest week from 328,750 the prior week.

The total number of people still on the benefit rolls after drawing an initial week of aid rose more than expected to 2.56 million in the April 28 week, the latest week for which data is available, from 2.49 million the prior week.

Labels:

0 Comments:

Post a Comment

<< Home