Georgia Leads Nation in New Jobless Claims

Washington, DC, Aug. 21, 2008--Initial jobless claims fell for a second consecutive week, after hitting six-year high, according to the Labor Department.

Initial claims for benefits fell 13,000 to a seasonally adjusted 432,000 in the week ended Aug. 16. Economists had expected claims would drop by 15,000.

The Labor Department in its weekly report also revised the prior week's jobless claims figure down 5,000 to 445,000 and said numbers remain elevated in part because of a recent emergency extension of jobless benefits.

Georgia reported the largest increase in new claims the week of Aug. 9 as a result of increased layoffs in construction, textiles and manufacturing. Florida reported the largest decrease due to fewer layoffs in construction, trade, services and agriculture.