Investing February 7, 2002
Jobless Claims Dip
February 7, 2002 (PLANSPONSOR.com) - The lines of US
workers lining up for first time unemployment insurance
benefits are getting shorter, according to data just released
by the Department of Labor.
Reported by Camilla Klein
In the week ending February 2, the number of initial unemployment claims dropped by a better than expected 15,000 to 376,000 from 391,000 the previous week.
The four-week moving average, considered a better gauge of the employment picture because it smoothes out weekly fluctuations, fell to 380,500, its lowest level since August last year.
Future ‘Tense?’
However, looking to the future, data just released from outplacement firm Challenger, Gray and Christmas found job cut announcements soaring by 32% in January.