Weekly Jobless Claims Fall to Four-Year Low of 348,000
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Data from the Labor Department Thursday showed jobless claims for the week ended February 11th fell 13,000 from an upwardly-revised reading of 361,000 during the prior week to 348,000. Economists were expecting jobless claims of 365,000.
Continuing claims for the week ended February 4th totaled 3.426 million, better than the 3.495 million economists on the Street had been expecting. The prior week continuing claims reading was revised from 3.526 million to 3.515 million.
Claims for members of the workforce recently unemployed peaked over 650,000 claims a week in early 2009 as the latest financial crisis unfolded. The closely-watched data point had dipped to under 500,000 by the end of 2009, and hung around 400,000 per week throughout 2011.
Investors are also weighing producer price figures and better-than-expected housing starts Thursday. Just minutes after the opening bell, the Dow Jones Industrial Average is up 6 points to 12,786, the Nasdaq is down 0.5, and the S&P 500 is down 0.7.
Continuing claims for the week ended February 4th totaled 3.426 million, better than the 3.495 million economists on the Street had been expecting. The prior week continuing claims reading was revised from 3.526 million to 3.515 million.
Claims for members of the workforce recently unemployed peaked over 650,000 claims a week in early 2009 as the latest financial crisis unfolded. The closely-watched data point had dipped to under 500,000 by the end of 2009, and hung around 400,000 per week throughout 2011.
Investors are also weighing producer price figures and better-than-expected housing starts Thursday. Just minutes after the opening bell, the Dow Jones Industrial Average is up 6 points to 12,786, the Nasdaq is down 0.5, and the S&P 500 is down 0.7.
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