Create a free Manufacturing.net account to continue

Jobless Claims Report Better Than Expected

Applications for unemployment benefits declined 8,000 from the previous week, smaller than the decline of 17,000 claims that economists expected.

WASHINGTON (AP) β€” The number of newly laid off workers filing claims for unemployment benefits fell by fewer than had been expected last week.
 
The Labor Department reported Thursday applications for unemployment benefits totaled 331,000, a decline of 8,000 from the previous week.
 
That improvement was smaller than the decline of 17,000 claims that economists had been expecting and was certain to raise concerns about whether the severe slump in housing and a serious credit crunch were beginning to adversely affect the overall economy.
 
The four-week average for claims rose by 7,750 to 324,750, its highest level since Sept. 1.
More in Supply Chain