US jobless claims fall
Monday, 7 February 2011
WASHINGTON, Feb 6 (Xinhua): The number of US people initially applying for unemployment aid last week fell by 42,000 from the previous week, the US Labor Department reported last week.
The Labor Department said the advance figure for seasonally adjusted initial claims for jobless benefits was 415,000 in the week ending January 29, decreasing from the prior week's revised figure of 457,000.
The number had surged in the previous week after snowstorms in the Southeast disrupted work and led to temporary layoffs.
The four-week moving average, which more closely watched claims figure, increased to 430,500 from the previous week's revised average of 429,500.
Economists said that fewer than 425,000 people applying for aid is consistent with modest job growth, but the number of jobless claims will have to fall to 375,000 or below to signal a sustained drop in the unemployment rate.
The Labor Department said the advance figure for seasonally adjusted initial claims for jobless benefits was 415,000 in the week ending January 29, decreasing from the prior week's revised figure of 457,000.
The number had surged in the previous week after snowstorms in the Southeast disrupted work and led to temporary layoffs.
The four-week moving average, which more closely watched claims figure, increased to 430,500 from the previous week's revised average of 429,500.
Economists said that fewer than 425,000 people applying for aid is consistent with modest job growth, but the number of jobless claims will have to fall to 375,000 or below to signal a sustained drop in the unemployment rate.