Jobless claims drop back down to 239,000

Source: Washington Examiner | November 22, 2017 | Joseph Lawler

First-time jobless claims fell 13,000 to 239,000 last week, the Department of Labor reported Wednesday, more than the 9,000 drop economists expected.

With Wednesday’s numbers, claims have continued to hover at extremely low levels, despite the fall disruption of the hurricanes that slammed the southeastern U.S. Claims collections in Puerto Rico and the Virgin Islands are still being affected by the storms, the agency said.

Low jobless claims are a good sign for the economy. If fewer people are applying for benefits at state agencies, it suggests that layoffs are relatively rare, and job creation high.

“Claims remain low, even with a modest boost from delayed Hurricane-Maria-related filings in Puerto Rico in recent weeks,” noted Jim O’Sullivan, economist for the forecasting group High Frequency Economics. The data continue to signal enough strength in employment growth to keep the unemployment rate trending down.”

…….

Tagged: 

Viewing 2 posts - 1 through 2 (of 2 total)
Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.