Thursday, January 25, 2007

Forex News: 25.01.2007 Initial jobless claims up to 325,000 last week

The number of newly workers filing applications for state unemployment benefits climbed sharply in the latest week, suggesting some slack in labor markets at the beginning of the year.

First-time claims for jobless benefits rose by 36,000 to a seasonally adjusted 325,000 in the week ended Jan. 20. Economists had been expecting 310,000 new claims.

Meanwhile, the four-week average of initial claims rose by 1,500 to 309,250. Economists consider the four-week average a better measure because it smoothes out one-time events like strikes or weather.

The number of people continuing to collect unemployment benefits fell by 39,000 to a seasonally adjusted 2.48 million in the Jan. 13 week.

The four-week average of continuing claims fell by 9,500 to stand at 2.46 million, the lowest since Nov. 18.

The insured unemployment rate remained steady at 1.9%.


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