First-time claims for unemployment benefits filed by the recently laid off during the week ending October 15 hit 260,000, a gain of 13,000 claims from the preceding week’s total of 247,000 claims, the Employment and Training Administration reported.
The four-week moving average — considered a more reliable measurement of layoffs — notched up to 251,750, an increase of 2,250 claims from the prior week’s average of 249,500.
Last week’s performance marked 85 straight weeks of initial jobless claims staying below 300,000, which economists consider indicative of a growing job market. This is the longest such streak since 1970.
Author:Don Fleming Phone: 917-453-2505 Dated: October 25th 2016 Views: 66 About Don: Don Fleming has been practicing real estate for more than 10 years , with the primary goal to become...
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