U.S. Unemployment Aid Applications Drop to 370K - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

U.S. Unemployment Aid Applications Drop to 370K

Posted:
In this Friday, Nov. 30, 2012, photo, an unidentified job seeker talks to recruiters from a trade school at the Fort Lauderdale Career Fair, in Dania Beach, Fla. (Photo: AP) In this Friday, Nov. 30, 2012, photo, an unidentified job seeker talks to recruiters from a trade school at the Fort Lauderdale Career Fair, in Dania Beach, Fla. (Photo: AP)

WASHINGTON (AP)— The number of people seeking U.S. unemployment aid fell sharply last week as a temporary spike caused by Superstorm Sandy has faded. Weekly applications have fallen back to a level consistent with modest hiring.

The Labor Department said Thursday that applications dropped 25,000 last week to a seasonally adjusted 370,000.

Unemployment aid applications spiked a month ago after Sandy shuttered businesses in the Northeast. Applications jumped to 451,000 in the week ended Nov. 10. People can claim unemployment benefits if their workplaces are forced to close and they aren't paid.

Some analysts were encouraged by how quickly applications have returned to pre-storm levels. Pierre Ellis, an economist at Decision Economics, said the rapid drop suggests companies are quickly re-hiring workers displaced by the storm. Rebuilding and repair efforts could also be creating jobs, he said.

The report is "a positive development for the labor market, which appears to be recovering from the temporary effects of Sandy more rapidly than originally anticipated," Joseph LaVorgna, an economist at Deutsche Bank, said in a note to clients.

The early impact of Sandy can still be seen in the four-week average. It rose to 408,000 last week.

Before the storm hit on Oct. 29, applications had fluctuated this year between 360,000 and 390,000. They topped 400,000 for most of last year. That has coincided with only modest declines in the unemployment rate.

The storm is also likely to depress November's job figures, which the government will report Friday. And fears over looming tax increases and spending cuts, known as the "fiscal cliff," may have also dragged on job gains last month.

Economists expect employers added 110,000 jobs in November, according to FactSet. And they think the unemployment rate will remain 7.9 percent.

Some analysts expect much lower job gains, roughly 25,000 to 50,000, because of Sandy and anxiety over the fiscal cliff.

Still, most analysts say the underlying economy remains healthy and is creating jobs at a modest but steady pace.

Without the depressive effects of Superstorm Sandy and the cliff, many think employers would have added up to 200,000 jobs last month — even stronger than the solid 171,000 jobs added in October. And it would be better than the 174,000 jobs a month averaged in the July-September quarter.

The number of people continuing to receive unemployment aid also fell. Total recipients dropped almost 225,000 to just under 5 million in the week ended Nov. 17, the latest data available.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Hundreds March in Seaford Demanding "Justice for Germani"

    Hundreds March in Seaford Demanding "Justice for Germani"

    Apr 24, 2018 11:09 PM2018-04-25 03:09:00 GMT
    Tuesday, April 24 2018 11:20 PM EDT2018-04-25 03:20:40 GMT
    SEAFORD, Del.- Just weeks after nine-year-old Germani Truitt-Handy was killed during a hit and run accident, her family and friends marched the streets of Seaford demanding justice. Delaware State Police say 21 year old Dwyane McConnell of Seaford was theMore
    SEAFORD, Del.- Just weeks after nine-year-old Germani Truitt-Handy was killed during a hit and run accident, her family and friends marched the streets of Seaford demanding justice. Delaware State Police say 21 year old Dwyane McConnell of Seaford was theMore
  • Two Arrested For Copper Wire Thefts in Delaware

    Two Arrested For Copper Wire Thefts in Delaware

    Apr 24, 2018 7:19 PM2018-04-24 23:19:00 GMT
    Tuesday, April 24 2018 7:24 PM EDT2018-04-24 23:24:44 GMT
    Taylor Provanchie (left) and Thomas Bradley, both of Harrington. Taylor Provanchie (left) and Thomas Bradley, both of Harrington.
    Taylor Provanchie (left) and Thomas Bradley, both of Harrington.Taylor Provanchie (left) and Thomas Bradley, both of Harrington.
    Delaware State Police have arrested two people in connection with multiple thefts of copper wire from commercial irrigation systems.More
    Delaware State Police have arrested two people in connection with multiple thefts of copper wire from commercial irrigation systems. More
  • Laurel Pastor Arrested on Child Pornography Charges

    Laurel Pastor Arrested on Child Pornography Charges

    Apr 25, 2018 4:17 PM2018-04-25 20:17:00 GMT
    Wednesday, April 25 2018 4:35 PM EDT2018-04-25 20:35:06 GMT
    Pastor Cesar M. Rios Martinez of Iglesia El Espiritu Santo in Salisbury arrested on child porn charges; Photo Credit: Delaware DOJPastor Cesar M. Rios Martinez of Iglesia El Espiritu Santo in Salisbury arrested on child porn charges; Photo Credit: Delaware DOJ
    Pastor Cesar M. Rios Martinez of Iglesia El Espiritu Santo in Salisbury arrested on child porn charges; Photo Credit: Delaware DOJPastor Cesar M. Rios Martinez of Iglesia El Espiritu Santo in Salisbury arrested on child porn charges; Photo Credit: Delaware DOJ
    LAUREL, Del. (WBOC/AP) - Authorities say a pastor at a church in Maryland has been arrested on child pornography charges.More
    LAUREL, Del. (WBOC/AP) - Authorities say a pastor at a church in Maryland has been arrested on child pornography charges.More
  • Most Popular VideosMost Popular VideosMore>>

  • People March to Remember 9-Year-Old Germani Truitt and to Demand Justice

    People March to Remember 9-Year-Old Germani Truitt and to Demand Justice

    A family in Seaford is demanding justice after a nine-year-old was killed in a hit-and-run crash. Hundreds attended a march for Germani Truitt to remember her and to protest the fact that the driver who hit her is free on $6000 bond.

    More

    A family in Seaford is demanding justice after a nine-year-old was killed in a hit-and-run crash. Hundreds attended a march for Germani Truitt to remember her and to protest the fact that the driver who hit her is free on $6000 bond.

    More
  • Eleven Arrested in Georgetown Drug Bust

    Eleven Arrested in Georgetown Drug Bust

    Dover Police and Georgetown Police cooperated in a drug investigation that finished with the arrest of 11 people. Police say the bust started with the search of a building at the Dunbarton apartments in Georgetown on January 31. 

    More

    Dover Police and Georgetown Police cooperated in a drug investigation that finished with the arrest of 11 people. Police say the bust started with the search of a building at the Dunbarton apartments in Georgetown on January 31. 

    More
  • Bennett High School Students Transform Garbage into Garments

    Bennett High School Students Transform Garbage into Garments

    Students in James Bennett High School are turning trash into fashion.

    Art teacher Erin Davis led her Art 3 and 4 students in the third edition of “Project Runway Trashion Show” a STEM lesson where students create outfits and sculptures using trash and recyclable materials.

    More

    Students in James Bennett High School are turning trash into fashion.

    Art teacher Erin Davis led her Art 3 and 4 students in the third edition of “Project Runway Trashion Show” a STEM lesson where students create outfits and sculptures using trash and recyclable materials.

    More
Powered by Frankly

All content © Copyright 2000 - 2018 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices