OT US Jobless Claims Rose in Latest Week

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Thursday March 9 8:53 AM ET

Jobless Claims Rose in Latest Week

WASHINGTON (Reuters) - The number of Americans applying for jobless benefits rose by 5,000 in the latest week, but a more reliable longer-term measure showed claims at their lowest in more than 26 years, the government said on Thursday.

Initial claims in the week ended March 4 rose for a second consecutive week to 280,000 from 275,000 in the previous week, said the Labor Department in a report showing employment prospects remain bright.

The closely-watched four-week moving average fell for the second straight week to 277,250 in the March 4 week from 284,000 in the prior week. The latest figure was the lowest since 256,750 in the Dec. 15, 1973 week.

Economists consider the four-week moving average a more reliable indicator of job market trends because it irons out weekly fluctuations.

In the week ended Feb. 26, the latest week for which state-by-state figures are available, Labor said two states reported an increase in applications of more than 1,000, led by Massachusetts with 4,113 more layoffs centered in the service industry.

In the same week, nine states reported a decrease in the number of applications of more than 1,000, led by California which had 5,588 fewer claims as the workweek was shortened by the Presidents' Day holiday.

-- viewer (justp@ssing.by), March 09, 2000


I hope you folks know that it you haven't a job by the time you unimployment run out you are no longer counted. How many are uncounted. I have and do know a few to many.

-- ET (bneville@zebra.net), March 09, 2000.

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