Saudi Cultural Week kicks off in Osaka to mark 70 years of Saudi-Japanese ties    Tourism Ministry shuts 10 unlicensed travel agencies in Riyadh    Saudi authorities arrest over 21,000 residency and labor violators in one week    Saudi graduates see record job market entry in 2024    Israeli defense minister boasts destruction of Beit Hanoun amid Gaza offensive    Von der Leyen vows to defend EU interests after Trump announces 30% tariffs    PKK lay down arms in northern Iraq in symbolic disarmament    U.S. judge blocks immigration arrests in Los Angeles over racial profiling claims    CMA approves major reforms to ease investment account access for foreign and local investors    Saudi Arabia reaffirms OPEC+ compliance as June crude supply hits 9.35 million bpd    Riyadh's Creative District to welcome Italy's Istituto Marangoni    France's Lady Liberty artwork goes viral as a new Statue of Liberty could be in the works    Saudi population reaches 35.3 million in 2024, majority under 65    Abdullah Al-Qaisoom wins silver at Asian Youth and Junior Weightlifting Championship    Aubameyang's future at Al Qadsiah in doubt after cryptic post comparing Saudi League strikers    Theo Hernández: Al Hilal can compete with Europe's best    SFDA approves 'Winrevair' for rare pulmonary hypertension treatment    HONOR returns to Esports World Cup as Official Smartphone Partner for 2025 The renewed commitment will see HONOR elevate mobile esports competition with cutting-edge AI technologies and industry-leading hardware    Michael Madsen, actor of 'Kill Bill' and 'Reservoir Dogs' fame, dead at 67    BTS are back: K-pop band confirm new album and tour    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Pakistani star's Bollywood return excites fans and riles far right    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.



U.S. Jobless Claims Rise
Published in Saudi Press Agency on 14 - 06 - 2012

More people in the United States sought unemployment benefits last week, the government reported Thursday, suggesting that hiring remains slow.
The Labor Department said weekly jobless claims rose 6,000 to 386,000. The four-week moving average of jobless claims, considered a better measure of labor trends because it is less volatile, rose for the third consecutive week to 382,000, the highest level in six weeks.
Weekly jobless claims are a measure of the pace of layoffs. When they drop below 375,000, it typically suggests that hiring is strong enough to reduce the unemployment rate, currently above 8 percent.
Jobless claims fell steadily during the autumn and winter but have leveled off since then. At the same time, hiring has slowed, raising worries about the pace of the economic recovery. Employers added an average of only 96,000 jobs per month in the past three months, down from an average of 252,000 in the previous three months.
Weaker hiring also pushed up the unemployment rate in May to 8.2 percent, the first increase in almost a year. Faster job creation is critical in order to accelerate growth. More jobs mean more income for consumers, which may lead to higher spending. Consumer spending accounts for about 70 percent of U.S. economic activity.


Clic here to read the story from its source.