Thursday April 24, 2008 - 13:39:06 GMT
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CEP News - www.economicnews.ca
U.S. Initial Jobless Claims Fall 33k to 342k, Continuing Claims Fall 65k
08:34 04/24 (CEP News) â€“ First-time claims for jobless benefits in
the United States fell to 342k following a 17k rise last week, while
continuing claims fell to 2934k, lower than expectations, the
Department of Labor reported Thursday.
U.S. initial jobless
claims came in lower than expected in the week ending April 19 with a
total of 342K claims filed. Forecasts were looking for a total of 375k
claims. The previous week's figure was revised up slightly to 375k from
The latest figure is well below the four-week moving average of 369.5k,
which moved down from the previous week's reading of 376k. Economists
say the average is a less volatile employment indicator than the weekly
Jobless claims have retraced after reaching a two-and-a-half year high
of 407,000 in the final week of March. The indexâ€™s all-time high was
reached on Sept. 30, 1982 when initial jobless claims surged to 671k.
The all-time low was in 1968 when claims stood at 162k.
Continuing claims fell to 2934k in the week ending April 12, down from
an upwardly revised reading of 2999k in the previous week.
Continuing claims reached their highest level of 4637k in May 1975 and dipped to its lowest level of 988k in May 1969.
By Stephen Huebl, [email protected], edited by Nancy Girgis, [email protected]
(END) Â©CEP Newswires - Â©CEP News Ltd. 2008. All Rights Reserved. www.economicnews.ca
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