RTRS: US jobless claims dip but by less than expected
The number of U.S. workers filing new claims for unemployment benefits eased last week but by less than expected, according to government data on Thursday that showed the labor market in the grip of a deep recession.
In addition, the number of people staying on the benefits rolls after drawing an initial week of aid the week ending Jan. 31 was at the highest on record, the Labor Department said.
The department said initial claims for state unemployment insurance benefits slipped 8,000 to a seasonally adjusted 623,000 in the week ending Feb. 7. Analysts polled by Reuters were expecting 610,000 claims. The previous week's claims were revised up to 631,000, the highest since the week ending Oct. 30, 1982.
The number of people staying on the benefits rolls rose by 11,000 to 4.810 million in the week ended Jan. 31, the latest week for which data is available.
The four-week moving average for initial jobless claims, considered a more reliable gauge since it smooths out week-to-week irregularities, rose to 607,500, the highest level since the week ending Nov. 13, 1982.
