| Topic: |
Politics > Politics-USA |
| User: |
"Harry Hope" |
| Date: |
01 Mar 2007 08:06:51 AM |
| Object: |
Continuing jobless claims climb to highest level since December, 2005. |
The number of people collecting unemployment benefits in the week
ending Feb. 17 rose by 134,000 to 2.64 million, the most since Dec.
24, 2005.
Initial claims represent job destruction, while the level of
continuing claims indicates how hard or easy it is for displaced
workers to find new jobs.
http://www.marketwatch.com/news/story/us-weekly-initial-jobless-claims/story.aspx?guid=%7BEA73BD94-0785-4A62-BC56-01B355EE9B10%7D
Mar 1, 2007
U.S. weekly initial jobless claims up 7,000 to 338,000
By Robert Schroeder, MarketWatch
WASHINGTON (MarketWatch) --
The number of first-time filings for unemployment claims rose by 7,000
in the latest week, while the number of continuing jobless claims rose
to the highest level since December 2005.
First-time initial jobless claims climbed by 7,000 in the week ending
Feb. 24, to 338,000, the Labor Department reported.
The four-week moving average of new claims -- considered a better
indicator because it smoothes out one-time events like strikes or
weather -- rose by 7,500 to 335,250, its highest level since the end
of October 2005.
Meanwhile, the number of people collecting unemployment benefits in
the week ending Feb. 17 rose by 134,000 to 2.64 million, the most
since Dec. 24, 2005.
The four-week average of continuing claims rose by 24,000 to 2.54
million, the most since the end of January 2006.
The insured unemployment rate -- the portion of all workers who are
covered by unemployment insurance who are collecting benefits -- rose
to 2.0% from 1.9%.
Initial claims represent job destruction, while the level of
continuing claims indicates how hard or easy it is for displaced
workers to find new jobs.
Long-term unemployment has been tenaciously high during this economic
expansion, despite the decrease in the unemployment rate to 4.5%.
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Harry
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