Jobless Claims Drop For First Time In Two Weeks

November 5, 2009 1:06 p.m. EST

Washington, D.C. (AHN) - The number of people filing jobless claims for the first time dropped by 20,000 during the week ending Oct. 31, the Labor Department reported Thursday.

It was the first drop in two weeks, and the fewest initial claims since early January.

Some 512,000 people filed seasonally adjusted initial claims for state unemployment benefits, the department said. Economists had forecast about 520,000 initial claims.

The revised figure for claims in the previous week was 522,000.

The four-week moving average was 523,750, a decline of 3,000 from the week before.

Some 2,069 former federal workers filed first-time claims in the week ending Oct. 24, an increase of 174 from the week before.

Puerto Rico had the highest insured employment rate in the nation, 6.4percent, as of Oct. 17. Nevada and Oregon were tied for second at 5.4 percent.

Continuing state claims fell to a seasonally adjusted 5.75 million, a drop of 68,000. Initial claims are 9 percent higher than a year ago. Continuing claims are up 55 percent.

The Senate on Wednesday approved a 20-week extension of benefits for states with the highest unemployment numbers.