Cleaning & Restoration Breaking News

Jobless claims drop by 58,000

January 11, 2002
/ Print / Reprints /
/ Text Size+
The Labor Department reports new unemployment benefits fell by 58,000, the lowest level in three weeks.

WASHINGTON -- The U.S. Department of Labor reported new unemployment benefits fell by 58,000, the lowest level in three weeks and a suggestion that the wave of layoffs triggered by the recession and the Sept. 11, 2001 terrorist attacks may be drawing to a close.

This improvement came after two weeks of big increases, and came in at about four times the 14,000 decline forecast by many economists.

Analysts said it could be a further sign of a stabilizing labor market after the huge layoffs in the wake of the Sept. 11 terrorist attacks. The government also reported that December unemployment hit a six-year high of 5.8 percent. However, the 124,000 jobs cut from business payrolls during December was sharply down from the two previous months when 800,000 Americans lost their jobs as travel-related businesses laid off thousands. Many economists say the recession, which officially began in March, will end in the first half of this year.

Still, they remain cautious that even after the economy resumes growing, the unemployment rate will continue climbing for a time as businesses hold back hiring until certain of a sustainable recovery.

Analysts are forecasting the jobless rate will peak around 7 percent by late summer. The jobless claims report showed that the four-week moving average for claims, which helps smooth out weekly variations, recently fell to 410,500, the lowest level since the week of Sept. 15. Government analysts cautioned that the drop of 56,000 in claims for the week ending Jan. 5 may have been influenced by a decision by newly laid off workers in California to delay filing for benefits until after Jan. 6, the date a new California law went into effect, raising the maximum weekly benefit to $330, up from $230 in effect last year.

The number of Americans drawing benefits for the week ending Dec. 29 stood at 3.53 million, down by 166,000 from the previous week, another indication that the labor market may be improving with more workers leaving the benefit rolls because they have found jobs.

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.



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.


Have a limited marketing budget but realize the importance of neighborhood marketing? Try doorknob hangers, a low-cost, yet highly effective way to drum up more business. In this episode, John Braun discusses the value of this tactic as well as what you should include on the materials you're hanging.
More Podcasts

ICS Cleaning Specialist Magazine


2014 September

The September issue of ICS features stories on moisture detection, disinfectant services, neighborhood marketing, then we discuss the last level of being phenomenal, and cool products.

Table Of Contents Subscribe

Social Media

Social media is a good way to regularly keep in touch and interact with current clients and reach potential ones. What social mediums do you use in your cleaning/restoration business?
View Results Poll Archive


Get Paid! book cover
Get Paid! (ebook)
Over 30 authors – over 40 articles…from attorneys, contractors, consultants, instructors and others, both inside and outside the restoration industry. R & R, C & R and Cleanfax, opened their archives and gave us the best they had, other chapters were created just for the “Get Paid!” book and its readers. And every one of them has ideas for how to get paid what you are owed.

More Products


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

Click here to view


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

Click here to view


facebook_40.png twitter_40px.png youtube_40px.pngcrc logo