Newspaper article THE JOURNAL RECORD

First-Time Jobless Claims Fall for Third Straight Week

Newspaper article THE JOURNAL RECORD

First-Time Jobless Claims Fall for Third Straight Week

Article excerpt

WASHINGTON (AP) _ The number of Americans filing first-time claims for state unemployment benefits edged downward by 3,000 last week for the third consecutive weekly decline.

However, a more closely watched indicator of hiring trends was up slightly for the fourth week in a row, the Labor Department said Thursday.

The figures were released a day ahead of the October unemployment report, which investors were anxiously anticipating because it could provide the last piece of information needed to prompt the Federal Reserve to push up interest rates a sixth time this year.

The Labor Department said initial claims for state jobless benefits totaled 321,000 in the week ended Oct. 29, down from a revised 324,000 the week before. The previous week's figure was initially reported at 323,000. Statisticians adjust the numbers to account for seasonal hiring fluctuations.

It was the third consecutive weekly decline and the seventh decline in the last nine weeks. …

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