Goverment Report On Jobs

Goverment Report On Jobs

Weekly initial jobless claims dropped by 31,000 to 292,000 last week - the lowest
level since April 2006 - well below the 330,000 level that economists surveyed by Bloomberg had expected, as the prior week's figure was unrevised at 323,000. Moreover, the four-week moving average, considered a smoother look at the trend in claims, fell by 7,500 to 321,750, while continuing claims dropped by 73,000 to 2,871,000, south of the forecast of economists, which called for a level of 2,968,000. However, a labor official noted that the jobless claims were impacted by computer upgrades that took place and two states failed to report data and the numbers will be revised in coming weeks.

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