Claims for unemployment benefits fell last week following an earlier surge related to Superstorm Sandy.
About 410,000 people filed for first-time unemployment benefits during the week ending November 17, down 41,000 from the previous week, the Labor Department said Thursday.
Revised data show during the week ending November 10 initial claims spiked by 90,000. About 84,000 of those claims came from New York, New Jersey, Pennsylvania and Connecticut and were primarily due to the storm, the Department of Labor said in a release.
Overall, that marked the largest increase in a single week since September 2005, in the wake of Hurricane Katrina.
via CNN
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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