|
Jobless claims climb
|
 |
January 6, 2000: 9:07 a.m. ET
300,000 benchmark breached for first time since Oct. 2 week
|
NEW YORK (CNNfn) - The number of Americans filing new claims for unemployment benefits rose 33,000 to 309,000 for the week ended Jan.1, the government said Thursday.
The number of claims was up from a revised 276,000 the prior week, the Labor Department said. Economists polled by Reuters had forecast about 280,000 new claims in state benefits.
New claims have been hovering near or below the 300,000 mark, a level consistent with a tight job market, since mid-January of last year.
U.S. jobless claims levels are at their highest since the 314,000 reported for the week ended Oct. 2. This is the first time jobless claims figures have climbed above the crucial 300,000 mark since that week
The U.S. jobless claims rise of 33,000 in Jan 1 week is the largest one-week increase since a 60,000 jump in the week ended Dec. 26, 1998.
The four-week moving average of claims, which generally provides a more accurate picture of jobless trends, inched up to 283,750 from 279,750 in the prior period.
Continued claims were 2,165,000 for the week ended Dec. 18, the latest data available, from a revised 2,096,000 the prior week.
The U.S. four-week moving average extends its run under 300,000 to 24 consecutive weeks, the longest string since July 29, 1972 to Jan 5, 1974.
Among the twenty states reporting a rise of 1,000 or more in jobless claims, Wisconsin, Iowa, Kentucky, Indiana, and Massachusetts were the hardest hit.
Wisconsin blames manufacturing layoffs, and job losses in the in the construction, trade, service, mining and transportation industries. Kentucky reported more layoffs in the construction and mining industries, while Indiana had more layoffs in the electrical equipment and rubber/plastics industries. Massachusetts did not comment on the probable reasons for the spike in jobless claims in the state. 
--from staff and wire reports
|
|
|
|
|
 |
|
