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U.S. Jobless Claims Fall to Near 6-Year Low
Published in Saudi Press Agency on 26 - 09 - 2013

AlQa'dah 20, 1434, Sep 26, 2013, SPA -- The number of people filing initial claims for unemployment benefits fell last week to near a six-year low, the U.S. government said Thursday in a promising sign for the jobs market.
The Labor Department said initial jobless claims fell 5,000 to 305,000, the second-lowest level in six years. The less volatile four-week average, considered a better measure of labor-market trends, fell 7,000 to 308,000, the lowest since June 2007.
All U.S. states reported their first-time claims on time, a department spokesman said. Claims plummeted three weeks ago because computer upgrades in California and Nevada prevented them from fully reporting their data. The two states have cleared their backlogs, the spokesman said.
Jobless claims are a measure of layoffs. Fewer layoffs suggest employers are confident enough to maintain their staffing levels.
However, companies have been reluctant to accelerate hiring, and job gains have decreased in recent months. Employers have added an average of 155,000 net jobs per month since April, down from an average of 205,000 in the first four months of the year.


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