Initial Claims Sink 12% to 352,000, Lowest Level Since Early '08
Tweet
Share
E-mail
Data from the Labor Department Thursday showed the number of Americans filing for unemployment benefits fell 50,000 to 352,000 in the week ended January 14th, marking the lowest level since April of 2008.
The prior week reading was revised higher from 399,000 to 402,000.
The number of candidates who filed for jobless claims was less than the 384,000 expected by economists. The figures could indicate U.S.-based companies and management teams are anticipating growth in the US will happen with or without a turnaround in Europe.
The four-week moving average -- a metric which is a little more practical to look at during the holiday season -- fell from 382,500 in the prior week to 379,000 last week.
Continuing claims for the week ended January 7th totaled 3.432 million, better than the 3.59 million expected by economists and below an upwardly-revised reading of 3.647 million for the prior week.
Americans who are receiving extended benefits under federal programs rose 105,200 to 3.56 million, making up a large portion in the reduction of Americans who are no longer receiving continuous claims.
37 states reported an increase in claims while only 16 saw a decrease.
The prior week reading was revised higher from 399,000 to 402,000.
The number of candidates who filed for jobless claims was less than the 384,000 expected by economists. The figures could indicate U.S.-based companies and management teams are anticipating growth in the US will happen with or without a turnaround in Europe.
The four-week moving average -- a metric which is a little more practical to look at during the holiday season -- fell from 382,500 in the prior week to 379,000 last week.
Continuing claims for the week ended January 7th totaled 3.432 million, better than the 3.59 million expected by economists and below an upwardly-revised reading of 3.647 million for the prior week.
Americans who are receiving extended benefits under federal programs rose 105,200 to 3.56 million, making up a large portion in the reduction of Americans who are no longer receiving continuous claims.
37 states reported an increase in claims while only 16 saw a decrease.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Crude Inventory Fell 6.1 Million Barrels Last Week, Says EIA
- Pending Homes Sales (May) 3.8% vs 0.9% Expected
- FOMC Median Rate Forecast Current Year 3.75% vs 3.625% Expected, 3.375% Prior
Create E-mail Alert Related Categories
Economic Data, Insiders' BlogRelated Entities
Initial Jobless ClaimsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
