Initial Claims Drop Sharply to 410K as Fallout from Hurricane Sandy Eases
Tweet Send to a Friend
Americans filing for unemployment insurance fell last week as the fallout from Hurricane Sandy continues to ebb.
Initial claims fell by 41,000 last week to 410,000, the U.S. Labor Department said Wednesday.the number compares with a revised-higher reading of 451,000 the prior week and expectations for a drop to 423,000 apps.
Continuing claims fell by just 30,000 to 3.337 million for the week ended November 10th. Estimates called for a rise to 3.4 million.
Seasonally-adjusted insured unemployment rate was 2.6 percent for the week ending November 10, unchanged from the prior week's unrevised rate, the Labor Department said.
The four-week moving average was 396,250, up from 386,750 the prior week.
In total, about 40 states and territories showed an increase in claims, with 13 showing a decline. The largest increases in initial claims for the week ending November 10 were in New York (+43,956), New Jersey (+31,094), California (+24,693), Pennsylvania (+7,037), and Connecticut (+1,808), while the largest decreases were in Ohio (-4,996), Indiana (-877), Arkansas (-665), Massachusetts (-607), and Maryland (-576).
U.S. markets are largely higher at the start Wednesday.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Initial claims fell by 41,000 last week to 410,000, the U.S. Labor Department said Wednesday.the number compares with a revised-higher reading of 451,000 the prior week and expectations for a drop to 423,000 apps.
Continuing claims fell by just 30,000 to 3.337 million for the week ended November 10th. Estimates called for a rise to 3.4 million.
Seasonally-adjusted insured unemployment rate was 2.6 percent for the week ending November 10, unchanged from the prior week's unrevised rate, the Labor Department said.
The four-week moving average was 396,250, up from 386,750 the prior week.
In total, about 40 states and territories showed an increase in claims, with 13 showing a decline. The largest increases in initial claims for the week ending November 10 were in New York (+43,956), New Jersey (+31,094), California (+24,693), Pennsylvania (+7,037), and Connecticut (+1,808), while the largest decreases were in Ohio (-4,996), Indiana (-877), Arkansas (-665), Massachusetts (-607), and Maryland (-576).
U.S. markets are largely higher at the start Wednesday.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Natural Gas Storage Grows 99 bcf vs 95 bcf Gain Expected
- MBA Mortgage Applications -7.3% vs 7% Prior
- April Retail Sales 0.1% vs -0.3% Expected, Ex-Auto -0.1% vs -0.2%
Create E-mail Alert Related Categories
Economic Data
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
