Weekly initial claims for unemployment insurance fell by 3,000 to 450,000 last week, the Labor Department said this morning. It is an encouraging sign, although no weekly number should be read into too much, as the data tends to jump around.
This morning, the Department of Labor announced that initial weekly jobless claims dropped from last week’s seven-month peak, which was revised upward from 500,000 to 504,000. But this week’s claims remain high at 473,000, with the four-week moving average, smoothing out one-week blips, at 486,750. Claims need to fall More…
Initial claims for unemployment insurance climbed to a nine-month high last week, the Department of Labor said today. Economists had expected claims to drop from 488,000 the prior week to 476,000. Instead, they reached the highest level since November: 500,000.
Here’s a headline that’s a sign of the times: “More Workers Needed for NJ Unemployment Claims.”
The Associated Press story, which ran yesterday, goes on to reveal that the state is hiring 130 additional workers to tackle the baglog of claims created by the economic downturn. (New Jersey’s unemployment More…
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