World
US weekly jobless claims fall
WASHINGTON : New US unemployment insurance claims fell 1.5 percent last week from the previous week, the Labor Departme
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Initial jobless claims in the week ending October 15 fell to 403,000, down by 6,000 from the prior week's upwardly revised reading of 409,000, the department reported.
The latest weekly claims figure confirmed a slight downward trend seen since mid-September.
The four-week moving average, which smooths out week-to-week volatility, also fell to 403,000, its lowest level since mid-April.
Despite the positive jobless claims number, the high unemployment rate, stuck at 9.1 percent in September, is expected to increase in the coming months due to the weakness in hiring.
About 14 million people in the country are without jobs, according to official data.
Copyright AFP (Agence France-Presse), 2011