|
Post by bot on Oct 24, 2013 17:44:24 GMT -5
Jobless claims fall to 350,000 WASHINGTON (MarketWatch) - New applications for U.S. unemployment benefits fell by 12,000 to 350,000 in the third week of October, but a major computer-systems snafu in California continued to distort the level of initial claims. Economists surveyed by MarketWatch had expected claims in the week ended Oct. 19 to fall to 337,000 from an upwardly revised 362,000 in the prior week. The four-week average of claims, usually a more reliable number, jumped by 10,750 to 348,250 to mark the highest level since early July, the Labor Department said Thursday. Claims surged to a six-month peak three weeks ago mainly because of widespread problems related to an upgrade in California's computer system. Hundreds of thousands of claims were affected and the problems were worse than state officials originally let on, according to reports by state newspapers. The latest claims figures do not include government employees who were furloughed during the shutdown. They can apply for temporary benefits under a separate program. In the week of Oct. 12, meanwhile, continuing jobless claims fell by 8,000 to 2.87 million. Continuing claims reflect the number of people already receiving benefits.
|
|