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First-time jobless claims down 3,000

By Vicki Needham - 09/20/12 08:36 AM ET

First-time jobless claims fell slightly last week as the labor market's struggles continue. 

Applications for unemployment benefits were down by 3,000, to 382,000, for the week ended Sept. 15, from the previous week's revised figure of 385,000, the Labor Department reported Thursday. 

Yet the four-week moving average, which provides a better view of how the job market is trending, was up by 2,000, to 377,750, the fifth straight week of increases.

Unemployment and the condition of the economy remain a central theme in the presidential election and are weighing heavily on President Obama's reelection efforts. 

This weeks figure is above the 375,000 that economists argue reflects a healthier job market and a hiring pace by employers that is fast enough to bring down the unemployment rate, which now sits at 8.1 percent.  

In August, businesses only added 96,000 jobs as the manufacturing sector shed 15,000 positions. The sector, which has led the economic recovery, has contracted in the past three months as the economic slowdown in Asia and the financial crisis in Europe hold back demand. 

Source:
http://thehill.com/blogs/on-the-money/economy/250617-first-time-jobless-claims-down-3000

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