Unemployment claims drop, manufacturing layoffs continue

Manufacturing News, Source : TheManufacturer.com
Published : 23 Oct 2003 18:14

The U.S. Department of Labor reported today that overall initial unemployment claims dropped last week to their lowest level in a month, despite continuing manufacturing layoffs.

The number of first-time filings was 386,000 for the week ending October 18, a drop of 4,000 from the previous week's revised figure of 390,000, and the lowest level since September 20.

According the same report, however, several individual states had an increase in initial claims for the week ending October 11 due to layoffs in manufacturing, including Indiana, Kansas, Kentucky, Minnesota, Florida and Texas. Minnesota reported a jump in first-time filings due to layoffs in the auto industry.

The current unemployment rate, for September, released earlier this month by the U.S. Bureau of Labor Statistics, is 6.1 percent. According to the Bureau, the number of jobs in manufacturing declined at a slower pace than in recent months, while employment in temporary help services continued to trend upward.

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