Fewer Applications For Jobless Benefits
By Christopher Rugaber |
October 1, 2010, Friday
|
Print Edition
Print Edition
APPLICATIONS for jobless benefits in the United States dropped last week for the third time in four weeks, a sign that employers are cutting fewer jobs.
New claims for jobless benefits fell by 16,000 to a seasonally adjusted 453,000, the US Labor Department said yesterday. Still, they are higher than they would be in a healthy economy and not low enough to signal rapid job growth.
The claims figures are "mildly encouraging" and "moving in the right direction," said Michael Gapen, senior US economist at Barclays Capital. But they need to fall to between 400,000 and 425,000 to indicate that hiring is picking up, he said.
Jobless claims are at the same level they were two weeks ago. Initial claims have fluctuated around 450,000 for most of this year.
New claims for jobless benefits fell by 16,000 to a seasonally adjusted 453,000, the US Labor Department said yesterday. Still, they are higher than they would be in a healthy economy and not low enough to signal rapid job growth.
The claims figures are "mildly encouraging" and "moving in the right direction," said Michael Gapen, senior US economist at Barclays Capital. But they need to fall to between 400,000 and 425,000 to indicate that hiring is picking up, he said.
Jobless claims are at the same level they were two weeks ago. Initial claims have fluctuated around 450,000 for most of this year.
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