New Claims for Unemployment Benefits Nearly Flat

June 21, 2012
Four-week moving average shows slight rising trend.

New claims for unemployment benefits in the United States were nearly flat at 387,000 last week, showing little change from recent poor data, a Labor Department report showed Thursday.

The figures indicated the pace of layoffs across the country has been on the upswing, coming in 2,000 below the previous week's, with the four-week moving average showing a slight rising trend.

The halt to improvement in the jobless claims gains over the past several weeks parallels a slowdown in job creation, freezing the country's overall unemployment rate at just above the 8% level.

The Federal Reserve on Wednesday slashed its estimate for the economy's growth this year by a half point, and projected unemployment would be higher than it thought just two months ago.

The Fed projected gross domestic product would grow a maximum of 2.4% by the end of the year, and the jobless rate would rise to as high as 8.2%.

Copyright Agence France-Presse, 2012

See Also:

Federal Reserve Unleashes Additional Economic Stimulus

Popular Sponsored Recommendations

The Benefits of Continuous Thermal Monitoring

Oct. 17, 2023
Read this eBook to learn more about collecting and using data intelligently to improve performance.

Smarter Savings for Manufacturers - Guide

Sept. 11, 2023
Boost your manufacturing sales and revenue while reducing costs. Learn how one platform can help your business be more agile and productive in today's market.

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 ...

Lean Manufacturing in the Age of the Industrial Internet

Oct. 24, 2023
Read how advanced MES capabilities can help you improve your labor utilization, reduce WIP, and optimize your production. Download the white paper today.

Voice your opinion!

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