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Us jobless september claims higher { November 13 2003 }

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   http://business-times.asia1.com.sg/sub/latest/story/0,4574,99660,00.html

http://business-times.asia1.com.sg/sub/latest/story/0,4574,99660,00.html

November 13, 2003
US jobless claims edge higher, Sept trade deficit up 4.4%

WASHINGTON - The number of US workers filing for unemployment benefits rose by 13,000 to 366,000 in the past week, the government reported on Thursday.

The Labour Department figures showed a mixed picture after improvement over the past few weeks. Analysts had been expecting a figure of 364,000 new claims.

The four-week moving average, often used by economists, fell to a two-and-a-half-year low of 375,250 in the week ended November 8, the government agency said.

At an average of 375,000, the level of new claims is approaching the 350,000 mark that could signal sustained job growth in the economy. The average number of workers receiving state unemployment over the past four weeks dropped by about 25,000 to 3.51 million, the lowest since March 22.

Record imports lead to wider US trade gap

WASHINGTON - A flood of imports pushed the US trade deficit up 4.4 per cent in September to US$41.3 billion (S$71.6 billion), the Commerce Department said on Thursday.

The trade deficit in goods and services was above the consensus forecast of Wall Street economists for a deficit of US$40.2 billion.

Although exports grew, imports rose faster.

Imports increased 3.3 per cent to a record US$127.4 billion, while exports rose 2.8 per cent to US$86.2 billion.

The trade deficit is on track to set a new record this year. For the first nine months of the year, the trade deficit totalled US$366 billion, up 21.2 per cent from the same period last year.

The trade gap with China widened to a record US$12.7 billion in September, topping the previous record of US$11.7 billion set in August.

The deficit with Japan increased from US$4.8 billion in August to US$5.1 billion in September.



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