
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: FRIDAY, October 7, 1994                   TAG: 9410070010
SECTION: BUSINESS                    PAGE: B-6   EDITION: METRO 
SOURCE: 
DATELINE: WASHINGTON                                LENGTH: Short

JOBLESS-CLAIM TALLY LOWEST IN 5 YEARS

First-time claims for unemployment benefits rose 7,000 last week, the government reported Thursday. It was the first increase in five weeks.

The Labor Department said the number of initial jobless claims totaled a seasonally adjusted 317,000 in the week ended Oct. 1, up from the previous week's 310,000. Most economists had been expecting an increase of about 5,000.

The increase followed an unexpectedly sharp drop of 11,000 in the week ended Sept. 24, when the number of weekly claims fell to their lowest level this year.

The Labor Department said its four-week moving average of claims fell to the lowest level in more than five years. The average was 318,750, down a healthy 3,250 from 322,000 the previous week. Not since May 20, 1989, had the figure been that low.

Economists consider the four-week average a better gauge of hiring trends than the more volatile weekly number because it smooths out fluctuations.

The Labor Department today is to report employment statistics, including September's jobless rate. Investors who are worried about inflation eroding the value of their investments have been anxiously awaiting the unemployment figure, fearing it may show that strong gains in the nation's job market have helped push down prices on the New York stock and bond markets this week.

The number of weekly claims has not increased since Aug. 27, when the end-of-summer jobs helped push the number up by 10,000.

- Associated Press

by CNB