- New Jobless claims allerdings auch - CRASH_GURU, 17.11.2005, 15:48
New Jobless claims allerdings auch
-->First-time jobless claims fell back sharply in a good sign for the jobs market, down 25,000 to 303,000 in the Nov. 12 week and the best reading since way back in April. An approach to the 300,000 level is a surprise, offering signs of full hurricane recovery. The four-week average is still higher at 321,500 but did fall 13,500 in the week.
The improvement came despite continued hurricane impact from Katrina and Rita (10,000 unadjusted) and also Wilma (9,000). Initial claims filed due to Katrina and Rita now total 545,000 (a really staggering number).
Hurricane impact is still evident in continuing claims as the displaced unemployed seek benefit extensions. Continuing claims rose 3,000 in the Nov. 5 week to 2.793 million. The four-week average of 2.811 million is nearly 250,000 higher than late August when Katrina first struck.
The initial claims data correspond with the October survey week for the monthly employment report -- and they show a big 54,000 improvement!

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