New US benefits claims stay above 400,000

first_img Tags: NULL New US benefits claims stay above 400,000 whatsapp The number of Americans filing new claims for unemployment benefits fell last week but held above the key 400,000 level, hinting at some loss of momentum in the labour market recovery.Initial claims for state unemployment benefits fell 13,000 to a seasonally adjusted 403,000, the Labor Department has said, unwinding some of the prior week’s end of quarter jump.Economists polled by Reuters had forecast claims slipping to 392,000. The prior week’s figure was revised up to 416,000 from the previously reported 412,000.The four-week moving average of unemployment claims, a better measure of underlying trends, rose 2,250 to 399,000.“It gives the impression that the momentum of labour market improvement is a bit disappointing at this point,” said Sean Incremona, an economist at 4Cast in New York.“We are still looking at a moderate recovery, so near-term we might have to edge lower some employment calls. I think we are still going to see the recovery sustained.”The claims data covered the survey period for April’s nonfarm payrolls report, which will be released in early May. Employers added 216,000 jobs in March, the most in ten months, and the unemployment rate slipped to a two-year low of 8.8 per cent from 8.9 per cent.US Treasury debt prices extended gains on the report and the dollar fell to session lows against the yen.Jobless claims below the 400,000 mark are usually associated with steady employment growth. Despite the increase last week, the four-week average has now been below that level for an eighth straight week.A Labor Department official said three states – Pennsylvania, Virginia and Alaska – had been estimated for last week’s data, raising the possibility for large revisions next week.The number of people still receiving benefits under regular state programmes after an initial week of aid fell 7,000 to 3.70m in the week ended April 9, the lowest level since September 2008.Economists had expected so-called continuing claims to slip to 3.67m from a previously reported 3.68m. Share alison.lock Show Comments ▼center_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMoneyPailShe Was An Actress, Now She Works In ScottsdaleMoneyPailLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Ads Thursday 21 April 2011 1:36 pm More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comlast_img

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