• BEE winners and losers

    Creating real change and real jobs requires a new ideology, says Gerhard Papenfus.

  • Governance matters

    Addressing risk well and timeously can be a source of growth, says Ian Mann.

  • Road to riches

    Taxpayers keep funding structures with big plans but who knows what efficacy, says Mandi Smallhorne.

Loading...
See More

US labour market gains ground

Dec 27 2012 15:56 Reuters
US Flag


Related Articles

US jobless claims surge in wake of Sandy

US economy shows some muscle

Mild pick-up for US economy next year

Obama’s plans to fix US economy

Obama pushes for tax on wealthy first

US consumers boost economic growth

 
Washington - The number of Americans filing new claims for unemployment aid fell last week to nearly its lowest level in 4 1/2 years, a sign that the labor market is healing.

Initial claims for state unemployment benefits dropped 12 000 to a seasonally adjusted 350 000, the Labor Department said on Thursday. The prior week's figure was revised to show 1 000 more applications than previously reported.

After spiking in the wake of Superstorm Sandy, which ravaged the East Coast in late October, the weekly levels of new claims have now dropped to their lowest levels since the early days of the 2007-09 recession. The four-week moving average fell 11 250 last week to 356 750, the lowest since March 2008.

That suggests the surge in layoffs since the recession may have run its course, although companies still are adding to their payrolls at a lackluster pace.

The report included a caveat, at least for the latest week. President Barack Obama declared Monday a holiday for federal workers and many state offices followed suit and were unable to provide complete data for last week's jobless claims.

Data for 19 states was estimated, a Labor Department official said. Fourteen of those states submitted their own estimates, which tend to be fairly accurate because the state officials work with a significant amount of data, the Labor Department official said.

Besides the federal holiday, there were no special factors influencing week's claims data, the department official said.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

united states  |  jobs

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

This is the most expensive burger in the world!

You won't believe how much someone was prepared to pay for this burger!

 
 

Luxury living

Exclusive food items that WILL break the bank
Top 10 most expensive homes in the world
You can permanently live on a ship and sail the world!
These are the richest people on the planet!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How will you manage Vodacom’s price hike for contracts?

Previous results · Suggest a vote

Loading...