U.S. unemployment claims spike
Initial claims spike even as total number of people receiving benefits declines
Last Updated: Thursday, October 1, 2009 | 9:16 AM ET
CBC News
Related
The number of people applying for initial jobless claims in the United States rose by 17,000 last week, to 551,000, U.S. data revealed Thursday.
The spike was the first increase in four weeks, the U.S. Department of Labour said. The Wall Street consensus expectation was for initial claims to come in at 531,000.
That would have been a slight increase on the 530,000 initial claims the Labour Department reported for the week ended Sept. 19. But on Thursday, the department upwardly revised its data for the previous week, saying initial claims actually came in at 534,000 during the period.
The number of new applicants for state unemployment benefits may have risen, but the total number of people receiving those benefits fell by 70,000 people to 6.09 million. That was better than the 6.1 million economists had been expecting.
It's not clear to what extent the decrease in jobless claims was due to the unemployed finding new jobs, and how can be attributed to still-jobless Americans simply running out of benefits.
Most states offer 26 weeks of benefits, but earlier this year, Congress approved federally funded extensions of up to 53 weeks in some cases.
As recently as last month, Democratic Congressman Jim McDermott brought forward a bill that would offer an additional 13 weeks of benefits for more than 300,000 jobless people who live in states with unemployment rates of at least 8.5 per cent.
Most of those people were set to run out of benefits by the end of September.
Share Tools
Top News Headlines
- Legalize pot, say former B.C. attorneys general
- Four former B.C. attorneys general are joining a coalition of health and justice experts calling for the legalization of marijuana. more »
- Whitney Houston's funeral to be held Saturday
- Pop star Whitney Houston's funeral service will be held Saturday in the New Jersey church where she first showcased her singing talents as a child. more »
- Online surveillance bill targets child porn: Toews
- A bill that would give police and intelligence agencies new powers to access Canadians' electronic communications is needed to protect against child pornography, says Public Safety Minister Vic Toews. more »
- Air Canada pilots give strike mandate to union
- The union representing Air Canada pilots has been given an overwhelming mandate to call a strike, though the pilots have said they won't use that option while mediated talks are ongoing. more »
Latest Business Headlines
- Air Canada pilots give strike mandate to union
- The union representing Air Canada pilots has been given an overwhelming mandate to call a strike, though the pilots have said they won't use that option while mediated talks are ongoing. more »
- CPP invests $1.8B in U.S. malls
- The Canada Pension Plan Investment Board is making a whopping $1.8-billion investment in shopping malls in the U.S. with a new joint venture agreement with the Westfield Group in its biggest real estate deal to date. more »
- Nortel hit by suspected Chinese cyberattacks for a decade
- Hackers based in China enjoyed widespread access to Nortel's computer network for nearly a decade, according to a report. more »
- CN blamed for fatal train derailment in Illinois
- CN is being blamed for a 2009 train derailment in Illinois, in which several cars went off the tracks and caught fire, killing one person and injuring seven others. more »
Lang & O'Leary Exchange
Markets
| Index | Last Trade | Change |
|---|---|---|
| TSX COMPOSITE | 12354.47 | -44.22 |
| DOW | 12878.28 | 4.24 |
| NASDAQ | 2931.83 | 0.44 |
| SP 500 | 1350.5 | -1.27 |
| NYSE COMPOSITE | 8029.61 | -26.64 |
| AMEX | 2429.06 | -2.72 |
| TSX-VENTURE | 1630.03 | -19.33 |
The data on this site is informational only and may be delayed; it is not intended as trading or investment advice and you should not rely on it as such.
Business Features
- Online surveillance critics accused of supporting child porn
- Whitney Houston's funeral to be held Saturday
- HMCS Corner Brook collision damage extensive
- Online surveillance bill targets child porn: Toews
- Mooning Queen proves costly for Australian man
- Legalize pot, say former B.C. attorneys general
- MacKay says submarine fleet has 'spotty' history
- Stanley Cup rioter seen in brick attack on cop
- Man kidnapped at Greyhound station escapes captors

