graphic
News > Economy
U.S. jobless claims fall
June 28, 2001: 8:44 a.m. ET

Number of Americans filing for unemployment drops below 400,000
graphic
graphic graphic
graphic
NEW YORK (CNNfn) - Fewer Americans lined up for unemployment benefits last week, the government said Thursday, a possible sign of stabilization in the job market.

New claims for state unemployment insurance benefits fell to 388,000 from a revised 404,000 the prior week, the U.S. Labor Department reported. Wall Street economists polled by Briefing.com had forecast a reading of about 420,000.

"Claims have now been essentially static for three months, so even if the latest declines turn out to be unsustainable, the data will still show that the trend is no longer rising rapidly, and may not be rising at all," said Ian Shepherdson, chief U.S. economist at High Frequency Economics Ltd. "It looks like the worst of the worst is now over in the labor market."

The four-week moving average of new claims, closely watched by economists since it smoothes weekly fluctuations, fell to 416,000 for the latest period from a revised 423,750.

New claims fell below 400,000 for the first time in six weeks. The five-week run above 400,000 was the longest since a similar string in August and September of 1992, when the U.S. economy was coming out of a recession. Claims above 400,000 are generally seen as an indication of a weak job market.

Click here for the latest on layoffs

Continued claims -- from workers who have claimed at least a week of benefits -- rose to 2.992 million in the week ended June 16, the latest data available, from a revised 2.978 million in the prior week. Continued claims are at their highest level since Nov. 7, 1992, the government said.

The states with the largest increases in claims last week were California and Wisconsin, while the states with the largest decreases were North Carolina and Illinois. graphic

  RELATED STORIES

U.S. jobless claims fall again - Jun. 21, 2001

Jobless claims highest in nine years - Jun. 7, 2001

Weekly jobless claims climb past expectations - May 31, 2001





graphic

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.