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Jobless claims rise
New claims for jobless benefits jump after prior week's dramatic drop, slightly above forecasts.
November 13, 2003: 8:45 AM EST

NEW YORK (CNN/Money) - Jobless claims rose in the United States last week, the government said Thursday, as the labor market continued its slow recovery from a long slump.

The Labor Department said 366,000 people filed new claims for unemployment benefits in the week ended Nov. 8, compared with a revised reading of 353,000 in the prior week. Economists, on average, expected 364,000 new claims, according to Briefing.com.

"The labor market's starting to improve a bit -- it's not great, but it's getting better," Joshua Feinman, chief economist at Deutsche Banc Asset Management, told CNNfn.

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U.S. stock market futures reversed earlier gains after the report, pointing to a negative opening on Wall Street. Treasury bond prices rose.

Most economists consider new claims below the 400,000 threshold as a sign of an improving labor market, and last week was the sixth consecutive week of jobless claims below 400,000. New claims had fluctuated in a narrow range near the 400,000 mark since mid-July.

In Thursday's report, the four-week moving average of new claims, which irons out the volatility of the weekly data, fell to 375,250 in the week ended Nov. 8 from a revised 381,250 in the prior week.

Continued claims, the number of people out of work for a week or more, rose to 3.53 million for the week ended Nov. 1, the latest data available, from a revised 3.48 million the prior week.  Top of page




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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.