|
Jobless claims tumble
|
 |
September 28, 2000: 11:10 a.m. ET
Claims fell 24,000 last week versus forecasts for small rise
|
NEW YORK (CNNfn) - The number of Americans filing new claims for unemployment benefits fell sharply last week to its lowest level in nearly two months, the government reported Thursday, pointing to continued tightness in the job market.
Initial claims for state jobless benefits fell unexpectedly to 287,000 in the week ended Sept. 23 from a revised 311,000 the prior week, the Labor Department said. It was the lowest level since a reading of 275,000 in the July 29 week. Economists polled by Briefing.com had forecast U.S. jobless claims of 315,000.
Over the past two months, claims have flip-flopped on either side of 300,000, affected by a labor dispute at Verizon Communications and layoffs caused by plant shutdowns due to the Bridgestone/Firestone Inc. tire recall.
The four-week moving average of claims, which generally provides a more accurate picture of jobless trends, also fell to 308,750 in the week ended Sept. 23 from a revised 316,500 the prior week, the Labor Department said.
Continued claims rose to 2,179,000 for the Sept. 16 week, the latest data
available, from a revised 2,172,000 the prior period.
California reported more layoffs in the trade and service industries, manufacturing and agriculture, while Missouri reported it had fewer layoffs in the transportation industry. Texas cited fewer layoffs in the food, apparel and trade industries, and Michigan had fewer layoffs in the automobile industry. 
-- from staff and wire reports
|
|
|
|
|
 |
|
