The Straits Times
Published on Nov 01, 2012

US unemployment claims fall, point to labour market recovery


WASHINGTON (REUTERS) - The number of Americans filing new claims for unemployment benefits fell last week, a sign the labour market's slow recovery was gaining traction.

Initial claims for state unemployment benefits dropped 9,000 to a seasonally adjusted 363,000, the Labour Department said on Thursday. That was below the median forecast in a Reuters poll of 370,000.

An analyst from the department said New Jersey and Washington, D.C., did not turn in data due to the mammoth storm Sandy, which hit the North-east earlier this week. The Labour Department estimated results for the state and for the nation's capital.

Economists have said the storm could lead to volatility in jobless claims over the coming weeks.