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News > Economy
Jobless claims finally dip
August 31, 2000: 8:48 a.m. ET

But telling four-week average of claims is at highest level since January 1999
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NEW YORK (CNNfn) - The number of Americans filing for unemployment benefits fell after a three-week rise, to 318,000 last week from a revised 321,000 the prior week, the government reported Thursday.

Economists polled by Briefing.com had forecast U.S. jobless claims of 315,000 for the period.

graphicHowever, the four-week moving average of claims, which generally provides a more accurate picture of jobless trends, rose again, to 313,000 in the week ended Aug. 26 from a revised 302,250 the prior week, the Labor Department said. The four-week average is at its highest mark since the week of January 30, 1999

Continued claims rose to 2,178,000 for the Aug. 19 week, the latest data available, from a revised 2,147,000 in the prior period.

New York, North Carolina and Massachusetts reported increases in claims greater than 1,000. North Carolina said it had more layoffs in the transportation equipment industry. Massachusetts reported an increase due to a strike at Verizon (VZ: Research, Estimates). New York had no comment.

California, Missouri, Illinois and Oregon reported decreases in claims greater than 1,000. California said it had fewer layoffs in the trade and service industries and agriculture. Illinois reported fewer layoffs in the trade and service industries and manufacturing. Missouri and Oregon had no comment. Back to top

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