New U.S. Jobless Claims Hit 9-Month Low, Falling To 381,000

WASHINGTON - New claims for unemployment benefits dropped to a nine-month low last week, a government report showed on Thursday, suggesting the labor market recovery was gaining momentum.

Initial claims for state unemployment benefits fell 23,000 to a seasonally adjusted 381,000, the Labor Department said, the lowest since late February. The prior week's data was revised up to 404,000 from the previously reported 402,000.

Economists polled by Reuters had forecast claims slipping to 395,000 last week.

The report, coming on the heels of data last week showing a rise in hiring and a sharp drop in the unemployment rate to 8.6 percent in November, pointed to some healing in a sector that has been the Achilles heel of the economy's recovery.

The drop in claims last week more than unwound the prior two weeks' increase, and pulled them back below the 400,000 level usually associated with improving labor market conditions.

Claims were the latest data to suggest an acceleration in economic growth in the current quarter after output expanded at a 2.0 percent annual rate in the July-September period.

A Labor Department official said there was nothing unusual in the state level data.

The four-week moving average of claims, considered a better measure of labor market trends, fell 3,000 to 393,250, the lowest since early April.

The number of people still receiving benefits under regular state programs after an initial week of aid dropped 174,000 to 3.58 million in the week ended November 26, the lowest since mid-September 2008.

Economists had forecast so-called continuing claims falling to 3.70 million from a previously reported 3.74 million.

The number of Americans on emergency unemployment benefits declined 178,610 to 2.79 million in the week ended November 19, the latest week for which data is available.

A total of 6.57 million people were claiming unemployment benefits during that period under all programs, down 431,397 from the prior week.

(Reporting by Lucia Mutikani, Editing by Andrea Ricci)

Copyright 2011 Thomson Reuters. Click for Restrictions.

Comments

[bacaja]

10:56 AM on 12/09/2011

With the usual obfuscation of language, and the usual obscuring of facts the author here implies, by the article header, that a significant number of people are no longer "claiming to be jobless." If only words could make it so!

[blndgenie]

10:21 AM on 12/09/2011

and next week this number will be revised UPWARD just as it always is. Its a game they play while the owe bama regime tells you 'we're on the right track, moving forward, we're in recovery!' Every week nearly 400,000 new unemployment claims are filed, and monthly job figures are about 100,000 if we're lucky, and a couple hundred thousand people disappear from the unemployed count because they've given up. THIS is the hopey-changey-math that the left calls 'recovery'.

[TexasBahr]

09:54 AM on 12/09/2011

Poppycock!
Once you add in the millions of us who have just given up searching for a job I doubt the picture will be painted so rosey.
Despite being forced to govern with his hands tied behind his back by the obstructionist, do nothing congress the President has managed to nudge the economy in the right direction but the unemploymeny problem is massive in this country and all the blame falls solely on the shoulders of those in congress and the senate who refuse to work with the president and his jobs bill initiative. (see, I can state a position without naming names. You can fill in the blanks though).

[Lupin77]

10:20 PM on 12/08/2011

Will be interesting to see what happens in January before we can determine if we've begun to turn the corner job wise in the country.

[bksrmgk]

04:22 PM on 12/08/2011

How much of this number is due to those who have run out of benefits? I was one week away from the end of mine when I finally found a 3-month contract position. Which these bodes the question...how much is due to those who are working as independent contractors so don't show up on company hiring records (we're vendors, not employees). Who much due to those working for cash? I did some of that? Or under the table? And even of those of us in those categories, how many are working for substantially less, often barely survivable, that we were before.

[blndgenie]

10:23 AM on 12/09/2011

last month 300,000 people simply vanished from the count. REAL unemployment is nearly 20%. This is what obamanomics calls 'recovery'.

[fortressfountain]

04:19 PM on 12/08/2011

381,000 people laid off is good news? How is anyone left that is working?

[laser focused]

03:35 PM on 12/08/2011

the envious I'm entitled types can't stand any kind of good news, because they're so caught up in their own little petty lives and because its not happening for THEM. they'll start worrying that this will effect the extension of handouts (it should too) and start whining about how life ain't fair and its never their fault...blah, blah, blah.

[Mister Grumpy]

02:15 PM on 12/08/2011

Even the affluent blacks (those with jobs) are leaving the inner cities, turning those cities into true sesspools. Welcome to the new America.

[DSevere]

05:52 PM on 12/08/2011

It depends on the city. When I first moved to L.A. 16 years ago, downtown was scary to drive through at night. Now I live there and really like it, the area has regenerated by a lot.

[mater]

01:40 PM on 12/08/2011

Probably alot of holiday help, but it's all good--people being able to feed their kids, pay their bills, have heat and water. Bless us, everyone...

[mothra666]

01:25 PM on 12/08/2011

Have at it trolls. And remember to use one kind of math for Obama and another kind for the rest of history.

[Chubbster]

01:08 PM on 12/08/2011

Massaged numbers much?

[madcityy]

12:44 PM on 12/08/2011

of course claims willl go down,,,no one left to fins work................

thanks mr o and joe,,,,,,,,,,,,,,,,,,u have ruined alllllllllllllllllll that was left................

[SteveDenver]

12:53 PM on 12/08/2011

Homeschooled?

[spinotter11]

01:11 PM on 12/08/2011

That's an insult to home schooling!

[Gregory Hinton]

12:28 PM on 12/08/2011

what never comes up is all the people who work for cash only.

[DSevere]

05:54 PM on 12/08/2011

Definitely. There's a huge underground economy.

[btbamfan]

12:21 PM on 12/08/2011

Trivialities. This is neither a sign of improvement or a sign of degradation. Vote out the Republicans.

[MrStat1]

02:40 PM on 12/08/2011

Why would one do that if they agree with the conservative philosphy? I sure won't vote for any Leftist.

[kpacvt]

11:55 AM on 12/08/2011

This only looks good because hundreds of thousands are giving up every week. Wake up socialists.

[spinotter11]

01:12 PM on 12/08/2011

Yes, wake up all of us latent socialists and let's do what is right for the USA and humanity - do away with capitalism!

[MrStat1]

02:41 PM on 12/08/2011

I believe in capitalism. If you want to go to war with me, bring it on!