New Jobless Claims Hold Steady

11-19-2009 | Source: emii.com

The Department of Labor released data on new jobless claims that had the seasonally adjusted initial claims rate for the week ending Nov. 14 unchanged from the previous week at 505,000, reports Reuters. The figures suggest that layoffs are slowing, with the four-week average falling by 6,500 to 514,000. The numbers reported were consistent with analysts’ estimates, according to Bloomberg.

The Labor Department also found the seasonally adjusted insured unemployment rate was also unchanged from the week prior, remaining at 4.3% for the week ending Nov. 7. The seasonally adjusted insured unemployment for the same week was down to 5.61 million, 39,000 lower than the previous week’s level. The four-week average fell 83,500 to 5.71 million, below the fiscal year-to-date average of 5.992 million.

Click here for the full release from the Labor Department.

Click here to read the story from Reuters.

Click here for additional coverage from Bloomberg News.