The number of Americans filing applications for unemployment benefits fell to the lowest level in seven months, a sign the recovery may be encouraging companies to limit cuts in headcount.
Jobless claims fell by 10,000 to 390,000 in the week ended Nov. 5, Labor Department figures showed today in Washington. The median forecast of economists in a Bloomberg News survey called for 400,000 new claims. The number of people on unemployment benefit rolls decreased, while those getting extended payments rose.
Jobless Applications
Jobless benefits applications were projected to increase from 397,000 initially reported for the prior week, according to the median forecast of 46 economists in a Bloomberg survey. Estimates ranged from 390,000 to 420,000. The Labor Department revised the prior week’s figure to 400,000.
Today’s data showed the four-week moving average, a less volatile measure than the weekly figures, fell to 400,000 last week, the lowest since April, from 405,250 the previous week.
The number of people continuing to receive jobless benefits fell by 92,000 in the week ended Oct. 29 to 3.62 million. They were forecast at 3.68 million.
