Washington, DC, November 3, 2005--Initial jobless claims fell 8,000 to 323,000 in the week ended October 29, according to the Labor Department. Claims for the week dropped to levels not seen since late August when Hurricane Katrina struck the Gulf Coast.
Economists had forecast at decline to 329,000.
Claims in the previous week were revised to a decrease of 26,000 to 331,000 compared with the initial estimate of a fall of 28,000 to 328,000.
The impact of Hurricanes Katrina and Rita is steadily declining.
A Labor Department official said only 18,000 of the claims this week were related to Hurricanes Katrina and Rita, down from 24,000 in the previous week.
A total of 520,000 claims have been filed since the deadly storms struck the Gulf Coast in August and September.
In the latest week, the four-week average of initial claims fell 17,000 to 350,500. This is the lowest level since Sept. 10.
