US jobless claims data points to labor improvement |
| Reuters - Oct 6, 2011 |
New U.S. claims for unemployment benefits rose modestly last week but hovered near levels normally associated with improving labor market
conditions, in a hopeful sign for the struggling economy. Initial claims for state jobless aid climbed 6,000 to a seasonally adjusted 401,000, the Labor Department said, from 395,000 the prior week.
That left claims holding steady around the 400,000 mark,
which is usually regarded as consistent with some improvement
in the jobs market, for a second week. Economists, who had
expected claims to rise to 410,000, saw this as yet another
sign the ailing economy was not falling back into recession.
"Claims suggest that layoffs remain contained despite high
uncertainty in the economy. We continue to expect moderate
growth rather than a recession," said Guy Berger, an economist
at RBS in Stamford, Connecticut.
Read Full Article from Reuters
- Posted: 2011-10-06 10:55:07
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