Jobless Claims Edge Up

Jan. 7, 2010
Weekly unemployment rate fell to 3.6%

New claims for jobless benefits edged up by 1,000 in the past week to 434,000 while other claims data showed modest improvement in the troubled labor market, official figures showed on Jan. 7.

The seasonally adjusted initial claims for unemployment insurance benefits in the week ending January 2 rose slightly from the prior week, when it had hit the lowest level in over a year.

The four-week moving average, a less volatile indicator than the week-to-week figures, fell to 450,250 from the previous week's revised average of 460,500.

The figures offer some hope that the brutal pace of job cuts is easing as the economy pulls out recession.

The report showed the seasonally adjusted insured unemployment rate was 3.6% for the week ending December 26, a decrease from the prior week's unrevised rate of 3.8%.

The number of people receiving benefits in the week to December 26 fell by 179,000 to 4,802,000.

"On net, claims for unemployment benefits are indicating modest labor market firming," said Andrew Gledhill at Moody's Economy.com.

Copyright Agence France-Presse, 2010

Popular Sponsored Recommendations

7 Crucial Steps to Improve Your OT Security

Oct. 23, 2023
Enhance OT security in manufacturing and production. Uncover the crucial steps to safeguard your operational technology. Protect against evolving threats and bridge the IT-OT ...

Legacy Phone Lines Are Draining Your Profits

Oct. 30, 2023
Copper wire phone line expenses that support emergency devices could be costing your company millions of dollars in wasteful overhead expenses. Rates have been skyrocketing while...

You Cannot Stay Competitive by Bolting New Technologies to a Legacy ERP

Oct. 20, 2023
Read this white paper to understand the benefits of shifting to a next-generation ERP system as part of a DOP.

Powering Up Productivity: The Transformative Power of AP Automation in Manufacturing

Oct. 25, 2023
Discover how AP Automation is revolutionizing the manufacturing industry, driving efficiency, cost savings, and security. In today's world, automation is the key to staying competitive...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!