Jobless Benefit Claims Lower Than Expected

Submitted by Cheston Catalano

Fewer Americans than expected filed first-time unemployment claims last week.

Applications for jobless benefits decreased 26,000 to 359,000 in the week ended Sept. 22, the lowest since July, Labor Department figures showed today. Economists forecast 375,000 claims, according to the median estimate in a Bloomberg survey.

A turnaround in claims, which have been on the rise since July, indicates companies in the U.S. may be growing more confident that sales will pick up. At the same time, the jobless rate may be slow to fall after exceeding 8 percent for 43 months without a pick-up in the pace of hiring.

By: Cheston Catalano

Cheston Catalano is a Kentucky-based journalist whose work has been featured in the Chattanooga Times Free Press and the Clarksville Leaf Chronicle. He is a long-time contributor to Liberaland.