MW:U.S. weekly jobless claims drop 9,000 to 323,000
By Jeffry Bartash
WASHINGTON (MarketWatch) - The number of Americans who applied for new unemployment benefits dropped by 9,000 to 323,000 in the week ended Aug. 31, keeping initial claims near a five-and-a-half year low. Economists surveyed by MarketWatch had expected claims to fall to 330,000 on a seasonally adjusted basis. The average of new claims over the past month, a more reliable gauge than the volatile weekly number, fell by 3,000 to 328,500, the U.S. Labor Department said Thursday. That's the lowest level since October 2007. Also, the government said continuing claims decreased by 43,000 to a seasonally adjusted 2.95 million in the week ended Aug. 24. Continuing claims reflect the number of people already receiving benefits. Initial claims from two weeks ago, meanwhile, were revised up to 332,000 from an original reading of 331,000, based on more complete data collected at the state level.
