Jobless Claims Fall But Sandy Dampens Recovery

jobless claims drop Hurricane Sandy
jobless claims drop Hurricane Sandy

WASHINGTON -- The number of Americans filing new claims for jobless benefits fell last week but remained elevated due to Hurricane Sandy, a sign that the storm is proving to be a substantial disruption to the labor market.

Initial claims for state unemployment benefits dropped 41,000 to a seasonally adjusted 410,000, the Labor Department said on Wednesday. That was smack in line with the median forecast in a Reuters poll.