State Jobless Claims at Highest Level This Year

The number of U.S. workers filing new claims for state unemployment benefits rose last week to the highest level this year as layoffs mount at auto makers and other manufacturers, a government report showed. Initial jobless claims increased by 15,000 to a level of 361,000 for the week ended Feb. 3, according to the Labor Department. That was the highest since the week of Dec. 30, when claims reached a 2 1/2-year high of 380,000. So far this year claims have averaged 334,000, up from 2000’s weekly average of 302,500 claims, a sign the economic slowdown and falling demand are forcing firms to cut jobs. The four-week moving average of claims, a less volatile indicator, rose to 331,250 last week from 327,000, the report showed.