Job claims fall after post-Sandy surge
November 21, 2012
First-time claims for unemployment insurance dropped by 41,000 during the week ended Nov. 17 after surging by an upwardly adjusted 90,000 the week before due primarily to the aftermath of Hurricane Sandy. The number of initial claims for the latest week totalled 410,000, which is still higher than usual and probably reflects continued impact from the storm.
Although state data for the latest week isn’t available, data for the week ended Nov. 3 shows more than 75,000 first-time claims in New York and New Jersey, which were the states hardest hit by the storm. Another 9,000 claims in Pennsylvania and Connecticut were attributed to Sandy. Another big source of job claims that week was California, which reported nearly 25,000 claims from the service sector.
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