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Digital News Report – There were fewer initial jobless claims last week compared to the week before, according to the U.S. Department of Labor.
For the week ending October 2nd, there were 445,000 initial claims. That is down 11,000 from the previous week. This decrease pushed the four-week moving average down 3,000 claims to 455,750. These numbers are seasonally adjusted.
Analysts had expected there to be between 450,000 and 455,000 initial jobless claims. The actual amount was lower than expected and lower than the prior week when the government said there were 453,000 claims.
A recent Gallop poll found an unemployment rate of 10.1 percent in September. That is a sharp increase, considering that in August the actual rate was 9.3 percent nationwide.
Some states are still suffering. In California there was an increase of 8,960 claims.
By: Mark Williams