Jobless Claims Fall 7.8%

Seasonally adjusted initial jobless claims fell 7.8% to 343,000 for the week ended Dec. 8, according to a Department of Labor report released today.  These newest data represent the fourth straight week of jobless claims declines, after a 25% spike for the week ended Nov. 10. 

The November spike resulted in large part from the effects of Hurricane Sandy on much of the Northeast, and this week's report provides increasing evidence that Sandy's long-term effects are waning. The four-week moving average fell by 27,000 to 381,500. 

Source: Department of Labor

On a state-by-state basis, California's initial claims rose by 24,411 for the most recent week for which such data is available, followed by Pennsylvania's 14,636 increase and North Carolina's 13,961. California cited layoffs in the service, agriculture, forestry, and fishing industries, as well as an increase in claims that week due to Thanksgiving office closures the prior week. Pennsylvania listed construction and professional layoffs as two sectors hurt most, while North Carolina did not submit a comment. 

The advance seasonally adjusted insured unemployment rate continues to hover at 2.5% for the week ending Dec. 1 (most recent data available), relatively unchanged since October .

link


Read/Post Comments (0) | Recommend This Article (3)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2152710, ~/Articles/ArticleHandler.aspx, 12/20/2014 7:32:04 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement