Fewer people claimed for unemployment benefits in the week ended Oct. 2, showing the largest drop in three months. The decreased number suggests fewer firings by the employers as jobless claims dipped to 445,000, less than 11,000 from the previous week, according to a figure released by the Labor Department.
This is the first time since July 10 that the rates are decreased to this number though it does not mean that the number of layoffs has actually diminished. The unemployment rate remains close to a 26-year high and the rate of economic recovery has been slow.
The four-week moving average, which is considered a more accurate figure, declined to 455,750 last week from 458,750. Jobless claims dropped by 48,000 in the week ended Sept. 25 to 4.46 million, which is the lowest figure since June 26.
The figure does not include those who receive money under the extended and emergency benefit programs of the federal government. Up to 5.14 million people were using extended payments and emergency benefits after draining the traditional jobless benefits in the week ended Sept. 18, an increase of up to 257,000. The unemployment rate among people who qualify for benefits slumped to 3.5 percent in the week ended Sept. 25, a little improvement from 3.6 percent reported the week earlier.
New York reported the largest decline in jobless claims, a figure close to 3,700, with a total of thirty-seven states reporting a decrease. Sixteen states reported an increase in the applications by the week ended Sept. 25.
