RPT-UPDATE 1-U.S. jobless claims tumble in latest week

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(Adds details from Labor Dept report)

WASHINGTON, Nov 24 (BestGrowthStock) – New U.S. claims for
unemployment benefits dipped more than expected last week, a
government report showed on Wednesday, signaling continuing
healing of the struggling labor market.

Initial claims for state unemployment benefits fell 34,000
to a seasonally adjusted 407,000 in the week ending Nov. 20,
the Labor Department said. It was the lowest since the week
ending July 19, 2008 just before the financial crisis
intensified.

Economists polled by Reuters had forecast a modest decline
in claims to 435,000.

Other measures of unemployment aid also pointed to some
easing of the toughest job market in decades. The four week
moving average of new jobless claims, considered a truer test
of underlying labor trends, eased to 436,000, the lowest since
the week ending Aug. 9, 2008.

The number of people still receiving benefits after an
initial week of aid plummeted by a surprising 142,000 to 4.18
million the week ending Nov. 13, the lowest since November
2008. Analysts forecast insured unemployment to ease to about
4.3 million.

The number of people on emergency unemployment benefits
fell 160,191 to 3.8 million in the week ended Nov. 6. A total
of 8.5 million people were claiming unemployment benefits
during that period under all programs.

RPT-UPDATE 1-U.S. jobless claims tumble in latest week