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    <title>Business Recorder - News</title>
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    <description>Business Recorder</description>
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    <copyright>Copyright 2026</copyright>
    <pubDate>Fri, 14 Aug 2026 03:33:18 +0500</pubDate>
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      <title>New US jobless claims tumble to 2-year low</title>
      <link>https://www.brecorder.com/news/2527/new-us-jobless-claims-tumble-to-2-year-low</link>
      <description>&lt;p class="MsoPlainText"&gt;&lt;img style="margin-right: 10px; margin-bottom: 10px; float: left;" alt=" " src="https://i.brecorder.com/images/stories/unemployment.jpg" width="400" height="266" /&gt;WASHINGTON: The number of new claims for US unemployment insurance tumbled last week to a two-year low, according to official data Thursday, offering hope for the troubled labor market.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The Labor Department said initial jobless claims fell to a seasonally adjusted 383,000 in the week ending February 5, down nearly nine percent from the prior week.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The department revised upward the previous week's reading to 419,000, from an initial estimate of 415,000.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The 383,000 figure was the lowest since early July 2008, data showed.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The four-week moving average, a measurement to smooth out week-to-week volatility, also showed a positive trend for jobs: it fell to 415,000 from last week's 431,500.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The sharp decline in new claims surprised most analysts, who had forecast a drop to 410,000, and lent strength to other recent data on payrolls and job creation that suggest a turnaround in the US job market.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Last week the government reported that the unemployment rate fell to 9.0 percent from 9.4 percent, based both on the trend and on data adjustments.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;At the same time, the number for newly created non-farm jobs was very low at 36,000 for the previous week. But that was blamed on harsh winter weather that shut businesses temporarily and prevented some data collection as well.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The severe storms of late January and early February continued to skew the numbers, a Labor Department official said Thursday.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;We are still unwinding a bit of the weather effect," he told reporters.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Despite signs that the US economic recovery is gaining pace, top government officials have warned that the slow pace of new job creation represents a continuing, crucial weakness.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The US economic recovery has "strengthened in recent months" and now looks self-sustaining, but is still not enough to significantly improve the job market, Federal Reserve Chairman Ben Bernanke told a congressional panel  Thursday.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;"Until we see a sustained period of stronger job creation, we cannot consider the recovery to be truly established," he said.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;&lt;Center /&gt;&lt;b&gt;&lt;i&gt;Copyright AFP (Agence France-Presse), 2011&lt;/b&gt;&lt;/i&gt;&lt;/center&gt;&lt;/p&gt;
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      <content:encoded xmlns="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p class="MsoPlainText"><img style="margin-right: 10px; margin-bottom: 10px; float: left;" alt=" " src="https://i.brecorder.com/images/stories/unemployment.jpg" width="400" height="266" />WASHINGTON: The number of new claims for US unemployment insurance tumbled last week to a two-year low, according to official data Thursday, offering hope for the troubled labor market.</p>
<p class="MsoPlainText">The Labor Department said initial jobless claims fell to a seasonally adjusted 383,000 in the week ending February 5, down nearly nine percent from the prior week.</p>
<p class="MsoPlainText">The department revised upward the previous week's reading to 419,000, from an initial estimate of 415,000.</p>
<p class="MsoPlainText">The 383,000 figure was the lowest since early July 2008, data showed.</p>
<p class="MsoPlainText">The four-week moving average, a measurement to smooth out week-to-week volatility, also showed a positive trend for jobs: it fell to 415,000 from last week's 431,500.</p>
<p class="MsoPlainText">The sharp decline in new claims surprised most analysts, who had forecast a drop to 410,000, and lent strength to other recent data on payrolls and job creation that suggest a turnaround in the US job market.</p>
<p class="MsoPlainText">Last week the government reported that the unemployment rate fell to 9.0 percent from 9.4 percent, based both on the trend and on data adjustments.</p>
<p class="MsoPlainText">At the same time, the number for newly created non-farm jobs was very low at 36,000 for the previous week. But that was blamed on harsh winter weather that shut businesses temporarily and prevented some data collection as well.</p>
<p class="MsoPlainText">The severe storms of late January and early February continued to skew the numbers, a Labor Department official said Thursday.</p>
<p class="MsoPlainText">We are still unwinding a bit of the weather effect," he told reporters.</p>
<p class="MsoPlainText">Despite signs that the US economic recovery is gaining pace, top government officials have warned that the slow pace of new job creation represents a continuing, crucial weakness.</p>
<p class="MsoPlainText">The US economic recovery has "strengthened in recent months" and now looks self-sustaining, but is still not enough to significantly improve the job market, Federal Reserve Chairman Ben Bernanke told a congressional panel  Thursday.</p>
<p class="MsoPlainText">"Until we see a sustained period of stronger job creation, we cannot consider the recovery to be truly established," he said.</p>
<p class="MsoPlainText"><Center /><b><i>Copyright AFP (Agence France-Presse), 2011</b></i></center></p>
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      <guid>https://www.brecorder.com/news/2527</guid>
      <pubDate>Thu, 10 Feb 2011 15:36:53 +0500</pubDate>
      <author>none@none.com (Imad Uddin)</author>
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