Trial now

(Z1) Incline Accelerates


Coming up in the Asia-Pac session on Friday:


Coming up in the Asia-Pac session on Friday:


Needle Still Points North

Repeats Story Initially Transmitted at 13:30 GMT Nov 9/08:30 EST Nov 9
--Four-Week Moving Average -1,250 To 231,250, Low Since March 31, 1973
By Kevin Kastner, Sara Haire and Holly Stokes
     WASHINGTON (MNI) - Initial claims U.S. state unemployment benefits 
rose by 10,000 to 239,000 in the November 4 week, above the 230,000 
level expected and driving the four-week average down to another 44-year 
low, data released by the Labor Department Thursday showed. 
     The four-week moving average for initial claims, a better measure 
of the underlying trend of the data, fell by 1,250 to 231,250 in the 
November 4 week as the 244,000 level in the October 7 week rolled out of 
the equation. This marks the lowest point for the average since 227,750 
in the March 31, 1973 week and confirms that claims have returned to 
their pre-hurricane levels. 
     If the number of headline claims does not change next week and 
there are no revisions to data from the past four weeks, the four-week 
average will rise by 4,000 as the recent low 223,000 level in the 
October 14 week rolls out of the calculation. 
     The Labor Department reported that backlogged filings in Puerto 
Rico continued to be processed, while claims in the Virgin Islands were 
still "severely disrupted." Unadjusted claims in Puerto Rico totalled 
8,137 in the current week after 6,124 in the previous week. 
     Seasonal adjustment factors had expected an increase of 7.5%, or 
16,281, in unadjusted claims in the current week. Instead, unadjusted 
claim rose by 25,793 to 241,568. The current week's level is still well 
below the 258,608 level in the comparable week a year ago. 
     The level of continuing claims rose by 17,000 to 1.901 million in 
the October 28 week, bouncing off their recent low. Unadjusted 
continuing claims rose by 20,258 to 1.627 million in the week, still 
well below the 1.763 million level a year earlier. The four-week moving 
average for continuing claims fell by only 750 to 1.895 million, the 
lowest level since 1.881 million in the January 12, 1974 week. 
     The seasonally adjusted insured unemployment rate rose to 1.4% in 
the October 28 week from 1.3% in the previous week. The current week's 
rate is down from 1.5% in the same week a year earlier. 
     The unemployment rate among the insured labor force is well below 
that reported monthly by the Labor Department because claims are 
approved for the most part only for job losers, not the job leavers and 
labor force reentrants included in the monthly report. 
     ** MNI Washington Bureau: 202-371-2121 **