Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, November 11, 1993 TAG: 9311110115
SECTION: BUSINESS PAGE: B-7 EDITION: METRO
SOURCE: Associated Press
DATELINE: WASHINGTON LENGTH: Medium
First-time jobless claims increased by 14,000 last week, reaching their highest level in more than three months, the government reported.
New applications totaled 354,000, up from a revised 340,000 during the week ended Oct. 30, the Labor Department said. It initially estimated claims for that week at 338,000.
"I don't want to paint a picture that is overwhelmingly positive, but we are moving in the right direction and I'm confident," Reich said.
Figures released last week showed a modest increase of 177,000 jobs nationwide for the month of October. The jobless rate was 6.8 percent, up from 6.7 percent in both September and August.
"The duration of unemployment is a problem," Reich said. "If you're unemployed, chances are you're going to be unemployed for a longer time than in years past."
Many economists expected a modest increase of about 2,000 in the number of new claims for unemployment benefits. Last week, they declined by 8,000.
The less-volatile four-week moving average of jobless claims - which analysts prefer to track - also rose.
The average totaled 348,250, up from 345,750 during the period ended Oct. 23. It was the highest since an average of 354,250 new claims were filed weekly during the period ended Aug. 7.
Decreases in claims were reported by 36 states and territories, while 16 had increases. One state showed no change.
One of the largest decreases in claims was reported by Virginia, at 917.
The weekly jobless claims usually are reported on Thursdays but were released Wednesday because today is a federal holiday.
by CNB