Number Of Unemployed U.S. Workers Continues To Decline

ByBridgeNews New claims for U.S. state unemployment insurance benefits fell 8,000 to 380,000 during the week ended Aug. 11, the U.S. Labor Dept. said, the fourth decline in the last five weeks, and slightly below analysts' expectations. The four-week moving average fell 9,250 to 370,750, the lowest level since the week ended Mar. 10. The median estimate of analysts surveyed by BridgeNews before this report put new jobless claims at 390,000. Estimates ranged from 370,000 to 405,000. For the week ended Aug. 4, initial claims rose 39,000 to a seasonally adjusted 388,000, originally reported as 385,000, The Labor Dept. said. For the same week, the four-week moving average for new claims was 380,000 per week. In new data for the week ended Aug. 4, continuing claims fell 36,000 to a seasonally adjusted 3.038 million. For the same week, the four-week moving average for continuing claims was 3,041,250, a fall of 17,750. The seasonally adjusted rate of insured unemployment during the week ended Aug. 4 held steady at 2.4% from the previous week. The ratio represents people claiming benefits as a percentage of the workforce potentially eligible for these benefits. Data on continuing claims and the insured unemployment rate are reported with a one-week delay.