First-time claims for unemployment benefits fell further
last week as the number of newly-jobless Americans seeking aid remained near
prerecession levels, the Labor Department said Thursday. That's a good sign for
the job market and the declining trend may signal improving hiring conditions.
The Labor Department will issue its September employment report on Friday.
Seasonally adjusted initial claims for jobless benefits in
the week ending Saturday were 287,000, down from the previous week's revised
total of 295,000, Labor reported.
The closely-watched four-week moving average, which smooths
out weekly volatility, held below 300,000 for the third straight week. That
marks the longest interval under that level since 2006.
The four-week average of 294,750 was down 4,250 from the
previous week's revised average of 299,000.
The U.S. labor market may have hit another healthy benchmark
last month as well, according to the government's report. Its preliminary
estimate of the total number of Americans receiving unemployment benefits fell
to a seasonally adjusted 2,398,000 in the week ended Sept. 20 -- the lowest
figure since June 2006.
Economists predict the Labor Department on Friday will
report employers added 215,000 jobs in September while the unemployment rate
held steady at 6.1%, according to the median forecasts in Action Economics'
survey.
Many economists also expect the government to revise up last
month's estimate of August job gains, reported as 142,000. That was the lowest
total for any month this year and broke a six-month string of gains above
200,000.
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