Jobless Claims Fall by 4,000
WASHINGTON, Sep 16, 1999 (AP Online via COMTEX) -- Lines at the
nation's unemployment offices were slightly shorter last week.
The Labor Department reported today that 288,000 Americans filed
first-time claims for unemployment benefits the week ended Sept. 11,
down by 4,000 from the previous week.
A four week moving average of jobless claims, which analysts watch more
closely, changed little, falling by just 250 to 288,750.
Economists consider jobless claims levels below 300,000 an indication
of an extremely tight labor market. Claims have hovered below that mark
for eight consecutive weeks now, and have not strayed far above it all
year.
That's good for workers, but economists worry that employers may feel
pressure to raise wages and benefits, which could drive up prices.
Already this year, the Federal Reserve has twice raised interest rates
as a pre-emptory strike against possible inflation, although consumer
prices so far have remained tame.
On Wednesday, the government said the core inflation rate -- minus
volatile food and energy prices -- of 1.9 percent for the 12 months
ended in August is the lowest in 33 years.
The nation's unemployment rate in August was at a 29-year low of 4.2
percent.
|
