U.S. Jobless Insurance Claims Drop

11-06-2009 | Source: emii.com

The U.S. Department of Labor reported on Thursday that in the week ending October 31, initial claims for unemployment insurance were down to 512,000, seasonally adjusted. According to Reuters, the 20,000-claim drop from 532,000 the week before brought the new jobless claims rate to its lowest level since January.

The seasonally adjusted data also found that the four-week average for new claims was down to 523,750 from the previous period’s 526,750. The insured unemployment rate was unchanged in the week ending on October 24, but insured unemployment was down to 5,749,000 from 5,817,000 the week before. The four-week average was lower as well, down to 5,886,250 from 5,965,750.

Click here to read the report from the Department of Labor.

Click here to read coverage from Reuters.