New filings for jobless benefits tumble
By JEANNINE AVERSA
AP Economics Writer
WASHINGTON (AP) — The number of people signing up for unemployment benefits
dropped to the lowest level in two months, an encouraging sign that companies
aren’t resorting to deeper layoffs even as the economy has lost momentum.
The Labor Department says new claims for unemployment aid plunged last week by
a seasonally adjusted 27,000 to 451,000. Economists had predicted a much
smaller decline of just 2,000. The number of new claims filed in the previous
week turned out to be flat, versus a small drop as first reported. But they
fell sharply the week before.
Even with latest decline, claims are still much higher than they would be in a
healthy economy. When the economy is growing strongly, claims drop to below
400,000.
WASHINGTON, Sept 9 (Reuters) – New U.S. claims for
unemployment benefits fell more than expected last week to
their lowest level in two months, a hopeful sign for the
troubled labor market.
Initial claims for state unemployment benefits dropped
27,000 to a seasonally adjusted 451,000, the lowest since the
week ended July 10, the Labor Department said on Thursday.
Analysts polled by Reuters had forecast claims dipping to
470,000 from the previously reported 472,000 the prior week,
which was revised up to 478,000 in Thursday’s report.