Washington, DC, February 1, 2007--First-time applications for state unemployment benefits fell by 20,000 to a seasonally adjusted, two-week low of 307,000 in the week ending January 27, the Labor Department reported Thursday.
The four-week average of initial claims dropped by 4,500, to an 11-month low of 304,750.
The number of people collecting unemployment checks rose by 71,000 to a seasonally adjusted 2.55 million in the week ending January 20. It's a two-week high.
The four-week average of continuing claims rose by 30,500 to 2.48 million, the highest since December 23.
The insured unemployment rate--the percentage of those covered by unemployment insurance who are collecting benefits--remained at 1.9%.
Initial claims are about 8% higher than they were a year ago, while continuing claims are about 11% higher.
