Jobless Claims Slip More than Expected
The number of Americans applying for unemployment benefits in early November fell to the lowest level in a month and remained near a half-century low, reflecting the resilience of the strongest labour market in decades.
Figures released Thursday by Washington revealed initial jobless claims declined by 8,000 to 211,000 in the seven days ended Nov. 2, Economists had forecast new claims to total a seasonally-adjusted 215,000.
The actual number of jobless claims fell the most in California, Georgia and Virginia. Claims had risen in California last month after raging wildfires and major power outages kept many people from work.
New claims rose the most in Illinois and Pennsylvania.
The U.S. government adjusts jobless claims to account for the periodic sharp swing in seasonal employment patterns. These moves are most pronounced in the summer and around big holidays such as Easter, Thanksgiving and Christmas.