New Jobless Claims Fall More Than Expected But Remain At High Levels
The AP (4/10) reports, “New jobless claims fell more than expected last week but are stuck at elevated levels, while those continuing to receive unemployment insurance set a record for the 11th straight week.” The Labor Department said Thursday that the “tally of initial jobless claims fell to a seasonally adjusted 654,000, down from a revised 674,000 the previous week. Analysts expected claims to drop to 660,000.” The high level of “continuing claims is a sign that many laid-off workers are having difficulty finding new jobs.” Among the states, Kentucky saw the “largest jump in claims for the week ending March 28, an increase of more than 5,000 due to layoffs in the auto and manufacturing industries.” California had the “biggest drop in recipients of more than 7,000, which it said was due to fewer layoffs in the service and manufacturing industries.”
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