Total new claims for US jobless benefits fell for the second straight week, wiping out steady gains in recent weeks, a US government report showed today.
First-time claims for state unemployment insurance - a rough guide to the pace of job layoffs - dropped 24,000 in the week ended September 21st to 406,000, down from a revised 430,000 in the prior week, the US Labor Department said.
The number of new applications fell more steeply than economists' forecasts for a drop to 421,000 from the original measure of 424,000 for the September 14th week.
Over the past four weeks, new claims have averaged 419,000, down from a four-week average of 420,000 in the previous week, the department said.
Weaker military demand pushed US durable goods orders down in August, the government said today, but the drop was smaller than expected and a rise in capital goods orders offered a glimmer of hope a long-lasting business investment slump may be nearing an end.
Orders for durable goods - costly manufactured items intended to last at least three years - fell 0.6 per cent last month after a downwardly revised 8.6 per cent rise in July, the US Commerce Department said.