US jobless claims hold steady

31 Aug 2012, 7:21 am   -   Source: AAP
Share This
0 
+ Comment
0
For months, claims have moved in a narrow range, suggesting a stabilisation in layoffs amid weak hiring. (Getty)

For months, claims have moved in a narrow range, suggesting a stabilisation in layoffs amid weak hiring. (Getty)

New claims for US unemployment insurance benefits held steady last week, the Labor Department says.

New claims for US unemployment insurance benefits held steady last week, the Labor Department said.

Initial jobless claims stood at 374,000 in the week ended August 25, the same as in the upwardly revised number of the prior week, the department reported.

Jobless claims, a sign of the pace of layoffs, were at their highest level since mid-July. Most analysts had expected a decline to 370,000.

The four-week moving average, which reduces week-to-week volatility, rose for a second straight week, to 370,250, an increase of 1500 from the previous week.

For months, claims have moved in a narrow range, suggesting a stabilisation in layoffs amid weak hiring.

More than three years after the Great Recession, the world's largest economy continues to struggle with tepid growth and high unemployment.

The jobless rate ticked up to 8.3 per cent in July and the United States added 163,000 jobs, slightly more than needed to absorb the expansion of the working age population.

  • Follow us: 
  • Follow us on Facebook
  • Follow us on Twitter
  • Follow us on Youtube

Join the Discussion

Name
City / Suburb E.g. Artarmon, Sydney
Title
Comment
You have characters remaining.
Validation
What's this?
This is a captcha-picture. It is used to prevent mass-access by robots.
All submitted comments become the property of SBS. They are moderated, so we reserve the right to edit comments and remove HTML tags. Not all submitted comments will be published. Publication does not mean we endorse the opinions expressed. Please read our terms and conditions for more information.