Low By 26,000 the Number of Weekly U.S. Jobless Claims
The number of weekly jobless claims in the U.S. fell by 26,000 and stood at 350,000 last week, the lowest level in four years, said the Labor Department.
The unemployment rate in June stood at 8.2 percent.
In this time of year vehicle plants typically cut their operations and lay off workers while carrying out the renovation and preparation tool for the production of new models.
This year the auto companies, including Chrysler, Ford and Nissan, have remained open longer than normal plants to meet demand and replenish inventories.
Therefore, analysts warned, take a little more time to determine whether or not the labor market is making progress or whether the figure robust applications last week reflected fewer layoffs in the automobile sector.
In the week ending June 30 the number of people receiving the allowance paid by the States fell by 14,000 and was around 3.3 million.
Covers unemployment benefits, usually up to 26 weeks but since 2008, and before the recession deeper and longer in nearly eight decades, the federal government instituted programs that have extended the benefits in some cases up to 90 weeks.
In the week ending June 23 the number of people receiving some form of unemployment benefits rose by 17,011, reaching 5.87 million, according to the government report.
Category: Business News
