Saudi security forces arrest 21,477 illegal residents in a week    Saudi Arabia delivers sacrificial meat to Egypt and Palestine    Sweden's Prince Carl Philip and Princess Sofia welcome baby girl    Sharifa Al-Sudairi makes historic debut at Asian Winter Games    Palestinian prisoners arrive in Ramallah under Gaza ceasefire deal    Trump revokes Biden's access to classified briefings    Wreckage of missing plane found in Alaska; all 10 aboard presumed dead    Trump vows to fire FBI agents involved in Jan. 6 investigations    Jaecoo J8 launches in Saudi Arabia, marking a new milestone in the Middle Eastern off-road market    Saudi Arabia opens Hajj 1446 registration for domestic pilgrims Priority given to those who have not performed Hajj before, with registration available via Nusuk app and e-portal    Ivan Toney's brace secures Al Ahli victory over Al Fateh in Saudi Pro League    Al Nassr reclaims third place with 3-0 victory over Al Fayha as Jhon Durán shines    Karim Benzema's last-gasp winner sends Al Ittihad to the top of Roshn Saudi League French striker seals dramatic 2-1 victory over Al Taawoun with stoppage-time strike    Salvador Dalí art comes to India for the first time    Crown Prince announces King Salman Automotive Cluster at KAEC    Saudi Arabia's population crosses 35 million, with non-Saudis constituting 44.4%    Heading into a new journey, JAECOO J8 is shaking up the luxury off-road market    GEA hosts mass wedding of 300 couples at "Night of a Lifetime" celebration during Riyadh Season 300 cars and housing as gifts for the newlyweds    Food Culture Festival kicks off in Riyadh's Diplomatic Quarter    Saudi Arabia to present 'The Um Slaim School: An Architecture of Connection' at Biennale Architettura 2025 Syn Architects explore Riyadh's architectural heritage, fostering new pedagogical approaches and global dialogue    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



New US jobless claims drop to 623K
Published in The Saudi Gazette on 13 - 02 - 2009

Nearly 5 million Americans continued to draw jobless benefits late last month, and new requests again exceeded 600,00 as companies lay off scores of workers amid a deepening recession.
The Labor Department said Thursday that the number of initial jobless benefit claims dropped to a seasonally-adjusted 623,000, from an upwardly revised figure of 631,000 the previous week.
The latest tally still was above analysts' expectations of 610,000 claims. And in a sign that laid-off workers are having difficulty finding new work, the number of people claiming benefits for more than one week rose to 4.81 million from 4.78 million, the highest total since 1967. The continuing claims data lag new claims by a week.
An additional 1.5 million people are receiving benefits under an extended unemployment compensation program approved by Congress last year, bringing the total number of recipients to 6.3 million.
Continuing claims are up sharply from a year ago, when the figure was 2.7 million.
In slightly better economic news, the Commerce Department reported Thursday that retail sales jumped 1 percent in January, reversing six months of decline and defying expectations of a 0.8 percent drop.
The rise in sales follows a 2.7 percent plunge in December, which marked the weakest holiday selling season since at least 1969. Economists consider jobless claims a timely, if volatile, indicator of the health of the labor markets and broader economy. A year ago, initial claims stood at 339,000.


Clic here to read the story from its source.