Initial Claims Fall to 390,000; Firings Slow Ahead of Holiday Season
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Initial jobless claims during the week ended November 4th showed a decline (the second consecutive move lower) as firings in the U.S. continue to slow.
Data from the U.S. Department of Labor Thursday morning showed 390,000 initial claims, down from an upwardly revised reading of 400,000 in the previous week. Economists were expecting 400,000 in initial claims. The four-week moving average fell 5,250 to 400,000 last week.
With less Americans being fired, the economy has a better chance to grow as more and more consumers feel comfortable opening up their pocketbooks.
Those continuing to receive benefits fell 92,000 to 3.62 million for the week ended October 29th, lower than the Street forecast of 3.68 million.
Americans who have used up traditional benefits and are on extended help rose 43,500 to 3.53 million for the week ended October 22nd.
About 27 states and territories reported a decline in claims, according to data, while 26 reported an increase.
Data from the U.S. Department of Labor Thursday morning showed 390,000 initial claims, down from an upwardly revised reading of 400,000 in the previous week. Economists were expecting 400,000 in initial claims. The four-week moving average fell 5,250 to 400,000 last week.
With less Americans being fired, the economy has a better chance to grow as more and more consumers feel comfortable opening up their pocketbooks.
Those continuing to receive benefits fell 92,000 to 3.62 million for the week ended October 29th, lower than the Street forecast of 3.68 million.
Americans who have used up traditional benefits and are on extended help rose 43,500 to 3.53 million for the week ended October 22nd.
About 27 states and territories reported a decline in claims, according to data, while 26 reported an increase.
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