Cleaning & Restoration Breaking News

Jobless Claims Fall in Latest Week

November 27, 2002
/ Print / Reprints /
ShareMore
/ Text Size+
WASHINGTON (Reuters) - Total U.S. jobless claims dropped sharply for the second consecutive week and to its lowest in nearly two years, the government said on Wednesday, but cautioned against reading too much into one week's figure.

Initial state unemployment insurance benefits fell by 17,000 to 364,000 in the week ended Nov. 23, the Labor Department said, down from a revised 381,000 recorded for the previous week and at its lowest since 355,000 in the Feb. 17, 2001 week.

Wall Street economists had forecast new claims of 382,000 for the latest week.

The Labor Department said, however, that new claims are more volatile during the November and December holiday season, noting that the Thanksgiving holiday last year was one week earlier.

Still, the weekly figure was also in line with a more reliable barometer of employment market trends, the closely watched four-week moving average. This number, which irons out week-to-week volatility, fell for the third consecutive week, the Labor Department said. It reached 385,750 in the Nov. 23 week, down from 397,000 the prior week and was at its lowest since 382,500 in the Aug. 10, 2002 week.

The number of workers continuing to file for benefits rose to 3.65 million in the week ended Nov. 16, the latest week for which data were available, from a revised 3.56 million for the prior week.

Meanwhile, data on U.S. personal income and spending for October, released separately by the Commerce Department, supported the idea the economy was livening up.

U.S. consumers dug deeper into their wallets in October, as personal spending outpaced income growth for the first time since the summer, the Commerce Department said.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.

1/27/15 2:00 pm EST

Grow Your Business and Improve Operations with New Payment Technology

Attend this free webinar to learn how new developments in payment technology can help you close more jobs, increase upselling opportunities and improve operations.

Podcasts

The winter slow season is a great time to pursue commercial cleaning accounts and stay busy. John "the Hitman" Braun solicited questions from thousands of cleaners across the country regarding their questions on commercial cleaning accounts and answers them in this episode of the show.
More Podcasts

ICS Cleaning Specialist Magazine

CoverImage

2014 Nov/Dec

The Nov/Dec ICS features content on how to get better meter readings, a roundtable on truckmount development, neighborhood marketing and more. Also included is the annual Buyer’s Guide and Directory.

Table Of Contents Subscribe

Janitorial Work

In addition to residential and commercial carpet cleaning, do you do any janitorial work on the side?
View Results Poll Archive

THE ICS STORE

FinalCover.gif
The Carpet Cleaner's Book of Unlimited Success! (ebook)

Don’t worry about the recession or about your competition.  Now you can be the owner of over 400 ways for carpet cleaning professionals to make more money and get more jobs!

More Products

ICS DIRECTORY AND BUYING GUIDE

Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view

STAY CONNECTED

facebook_40.png twitter_40px.png youtube_40px.pngcrc logo

TRUCKMOUNT EQUIPMENT AND ACCESSORIES GUIDE

Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view