Daily News

View All News

GDP grows again, jobless claims fall

October 29, 2009
Staffing Industry Analysts North American Daily News

Real gross domestic product in the U.S. rose at an annual rate of 3.5% in the third quarter after several quarters of decline, according to an advance estimate released today by the U.S. Department of Commerce. Also today, the U.S. Department of Labor reported the number of claims for unemployment insurance fell.

GDP had decreased 0.7% in the second quarter after decreases of 6.4% in the first quarter and 5.4% in the fourth quarter of last year.

The number of U.S. initial claims for unemployment fell by 1,000, or 0.2%, to 530,000 in the week ended Oct. 24 from 531,000 in the previous week, according to the U.S. Department of Labor.

The four-week moving average of claims for the week ended Oct. 24 fell by 6,000, or 1.1%, to 526,250 from the previous week's unrevised average of 532,250.