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U.S. jobless claims drop under 400,000

U.S. jobless claims drop under 400,000

Post ID: 5572 | POSTED ON: Nov 03, 2011
 
 

WASHINGTON, D.C. — Initial claims for unemployment insurance in the United States dropped to 397,000 in the week ending October 29, representing a decrease of 9,000 compared to the previous week, the U.S. Labor Department (DOL) reported on Thursday.

The latest DOL report shows the 4-week moving average was 404,500, a decrease of 2,000 from the previous week’s revised average of 406,500. In addition, the department revealed that the number of unemployed with unemployment insurance for the week ending October 22 was unchanged compared to the previous week’s 2.9 percent rate.

Furthermore, according to the DOL report, there was a decrease of 15,000 in the number of workers who claimed benefits under regular state unemployment programs, totaling 3,683,000 during the week ending October 22, while the 4-week moving average was 3,703,250, a decrease of 10,500 from the preceding week’s revised average of 3,713,750.

Meanwhile, the unadjusted, advance number of actual initial claims under state programs totaled 366,923 in the week ending October 29, a decrease of 10,433 from the previous week. There were 421,097 initial claims in the comparable week in 2010.

The highest insured unemployment rates in the week ending October 15 were in Puerto Rico (5.0), Alaska (4.4), Pennsylvania (3.6), Oregon (3.5), California (3.4), New Jersey (3.4), Virgin Islands (3.4), Nevada (3.2), Arkansas (3.1), and Connecticut (3.1).

The largest increases in initial claims for the week ending October 22 were in California (+7,176), New York (+2,494), Illinois (+2,057), Georgia (+1,642), and Pennsylvania (+1,579) while the largest decreases were in Florida (-2,230), Puerto Rico (-1,393), Washington (-898), Arizona (-735), and Arkansas (-567).

CREDIT PHOTO : BOSSI

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