U.S. jobless claims rise to 455,000; cont. claims down 55,000
Jakarta, Financeroll.com – The number of individuals filing new claims for unemployment insurance rose unexpectedly in the latest week due to the first wave of claims related to Hurricane Gustav, the Labor Department reported today.
The number of first-time claims filed in the week ending September 13 rose 10,000 to 455,000, the highest level seen since the week of August 2. The four-week moving average for initial claims, which tends to smooth out fluctuations in weekly data, rose by 5,000 to 445,000. Still, many economists see claims above 400,000 as a possible signal of recession.
Meanwhile, the number of people continuing to receive unemployment insurance in the week ending September 6 fell by 55,000 to 3.478 mln, below the 3.500 mln claims economists were expecting. The four-week moving average for continuing unemployment claim was increased by 29,750 to 3.461 mln, the highest level seen since October 2003. (TFN/MDY)
