Share

Unemployment benefits drop more than expected in the US

Initial jobless claims fell by 4 to 1.000 in the week ended Oct. 287.000, the Labor Department reported.

Unemployment benefits drop more than expected in the US

Still comforting signals from the occupation in the United States. The number of US workers filing for unemployment benefits for the first time fell last week, another sign that the job market is improving on the back of the general improvement in the US economy. Initial jobless claims fell by 4 to 1.000 in the week ended Oct. 287.000, the Labor Department reported.

The data is better than forecasts by analysts, who expected an increase to 292.000 units. The previous week's figure was revised upwards to 288.000. The four-week average, more reliable as it is not subject to market fluctuations, dropped by 7.250 units to 287.750. In recent weeks the figure has dropped below 300.000 units several times, something that hasn't happened regularly since the beginning of 2006. The figure remains below 400.000 units, a threshold which according to analysts signals a phase of stalemate.

The total number of workers receiving unemployment benefits for more than a week – for the week ending August 27, the last for which data is available – fell by 21.000 to 2,381 million.

comments