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Leadership

US new jobless claims fall to lowest level since January

12.11.2009
The number of US workers filing new jobless benefit claims fell for the second week in a row last week, official figures from the US today have shown.

According to the US Labour Department’s weekly report released today, first-time jobless claims fell by 12,000 to 502,000, which is the lowest level these claims have been since January of this year.

Economists surveyed by Dow Jones Newswires had expected a decrease of just 2,000 claims to 510,000.

There was further positive news from the four-week moving average of new claims, which declined to 519,750, its lowest level since November 2008.       

The number of US workers collecting long-term unemployment benefits also fell to 5.631 million for the week ended 31 October.

Such positive developments on the jobs front are bound to translate into hopes that US unemployment has peaked, and that its corresponding influence on slowing the US economic recovery down is also set to decline.

 

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