Weekly Jobless Claims Fall To Lowest In 4.5 Years

Before you go, we thought you'd like these...
Before you go close icon
jobs numbers claims unemployment

WASHINGTON, Oct 11 (Reuters) - The number of Americans filing new claims for unemployment benefits fell sharply last week to the lowest level in more than four and a half years, according to government data on Thursday that suggested improvement in the labor market.

Initial claims for state unemployment benefits fell 30,000 to a seasonally adjusted 339,000, the Labor Department said. It was the lowest number of new claims since February 2008.The prior week's figure was revised up to show 2,000 more applications than previously reported.

Economists polled by Reuters had forecast claims edging up to 370,0000 last week. The four-week moving average for new claims, a better measure of labor market trends, fell 11,500 to 364,000.

A Labor Department analyst said no states had been estimated for the latest report.

More:Surprising Six-Figure Jobs


Recent data on the U.S. labor market has been encouraging.

Employers added a modest 114,0000 jobs to their payrolls in September, but the unemployment rate dropped sharply to 7.8 percent, the lowest level since President Barack Obama took office.

Obama is in a tight fight with Republican challenger Mitt Romney less than a month before elections on Nov. 6, and the health of the labor market is an important factor for voters.

The claims report showed the number of people still receiving benefits under regular state programs after an initial week of aid fell to 3.27 million in the week ended Sept. 29, the latest data available.


Don't Miss: Companies Hiring Now



Looking for a job? Click here to get started.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners

Man Suspects His Wife Is Cheating On Him - Then His Daughter Reveals What's Really Going Man Suspects His Wife Is Cheating On Him - Then His Daughter Reveals What's Really Going
13 People Recount Their First Kiss Horror Stories 13 People Recount Their First Kiss Horror Stories
Large Numbers Of Horses Are Being Stuffed Into These Crates For A Despicable Reason Large Numbers Of Horses Are Being Stuffed Into These Crates For A Despicable Reason