Thursday, November 17, 2011
US jobless claims at 7-month low
New US claims for jobless benefits hit a seven-month low last week, while permits for future home construction rebounded strongly last month, bolstering views the economy was gaining traction.
Initial claims for state unemployment benefits fell 5,000 to a seasonally adjusted 388,000, the Labor Department said, from 393,000 the prior week. Economists had forecast claims rising to 395,000.
Separately, permits for residential construction rose 10.9 percent to a seasonally adjusted annual rate of 653,000 last month, the Commerce Department said. However, new home construction fell 0.3 percent to annual rate of 628,000 units.
Initial claims for state unemployment benefits fell 5,000 to a seasonally adjusted 388,000, the Labor Department said, from 393,000 the prior week. Economists had forecast claims rising to 395,000.
Separately, permits for residential construction rose 10.9 percent to a seasonally adjusted annual rate of 653,000 last month, the Commerce Department said. However, new home construction fell 0.3 percent to annual rate of 628,000 units.
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