US unemployment aid applications jump to 388,000

foxnews.com
October 18, 2012

Weekly applications for U.S. unemployment benefits jumped 46,000 last week to a seasonally adjusted 388,000, the highest in four months. The increase represents a rebound from the previous week’s sharp drop. Both swings were largely due to technical factors.

The four-week average of applications, a less volatile measure, fell slightly to 365,500, the Labor Department said Thursday. That is a level consistent with modest hiring.

Last week, California reported a large drop in applications, pushing down the overall figure to the lowest since February 2008. This week, it reported a significant increase as it processed applications delayed from the previous week.

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This article was posted: Thursday, October 18, 2012 at 7:05 am

Tags: domestic news, economics

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