Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

U.S. Jobless Claims Fall, Still High from Superstorm  Join our daily free Newsletter

MENAFN - Saudi Press Agency - 22/11/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Saudi Press Agency) The number of people filing new claims for jobless benefits fell last week but remained elevated due to superstorm Sandy, the U.S. government reported Wednesday, a sign the storm is proving to be a substantial disruption to the labor market.

The Labor Department said initial jobless claims fell 41,000 from the previous week, when the storm drove claims to their highest level in 18 months. The drop in claims only partially reverses the 90,000-claim increase registered last week, but department analysts said the economic impact of Sandy likely will be temporary.

The four-week moving average of jobless claims, considered a more reliable measure of labor-market trends because its smoothes weekly volatility, rose by 9,500 to 396,250.

Before Sandy, a huge storm that hit the east coast on October 29, leaving millions of homes and businesses without electricity, weekly jobless claims had fluctuated this year between 360,000 and 390,000. At the same time, employers added an average of almost 157,000 jobs per month, barely enough to reduce the unemployment rate, which was 7.9 percent in October.

But there are some signs the labor market is improving. Employers added 171,000 jobs in October, and hiring in August and September was stronger than initially estimated. The economy gained an average of 174,000 jobs per month in the July-September quarter, up from 67,000 a month in the April-June quarter.

 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help