MW: Initial jobless claims fall 13,000 as expected
WASHINGTON (MarketWatch) - The number of new layoffs declined by 13,000 to 623,000 last week, while the number of people collecting state unemployment benefits rose by 110,000 to a record 6.79 million, the Labor Department reported Thursday. The decline in initial jobless claims was in line with expectations of economists surveyed by MarketWatch. Initial jobless claims have been buffeted in recent weeks with massive layoffs related to plant shutdowns at Chrysler, but no unusual auto-related layoffs were noted by any states last week. The insured unemployment rate - the proportion of insured workers who are collecting benefits - rose a tenth to 5.1%, the highest since December 1982.
