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U.S. Jobless Claims Fall as Storm Starts to Affect Data

Bloomberg (11/08/12) Alex Kowalski; Michelle Jamrisko

Applications for unemployment insurance declined by 8,000 to 355,000 last week, according to the U.S. Department of Labor. One state reported that filings were suppressed by electrical outages caused by Hurricane Sandy, while other states said employees who lost their jobs due to the weather were beginning to apply for jobless benefits. A DOL spokesperson said it may take three to four weeks to see the full effect of the storm, and claims may rebound as storm-related applications are processed.