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News > Economy
Jobless claims climb
August 19, 1999: 9:00 a.m. ET

But four-week moving average of initial claims falls to 26-year low
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NEW YORK (CNNfn) - The number of Americans applying for first-time jobless benefits climbed slightly last week, the Labor Department reported Thursday.
     Initial jobless claims rose to 287,000 for the week ended Aug. 14, compared with a revised 283,000 the prior week and estimates of 291,000 claims according to economists surveyed by Reuters.
     But the four-week moving average, which provides a more accurate picture of the trend in initial claims, fell to 281,250 from 288,250 a week earlier. That's the lowest level since 280,000 recorded Dec. 22, 1973.
     Continued claims for the week ended Aug. 7 rose to 2.21 million from 2.16 million the previous week.
     The bond market dropped after the release of the jobs data and a key Commerce Department report showing wider-than-expected growth in the U.S. trade deficit. The benchmark 30-year Treasury bond fell 13/32 of a point for a yield of 6.02 percent in early morning trade. Back to top

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