AlHijjah 21, 1432, Nov 17, 2011, SPA -- New U.S. claims for jobless benefits hit a seven-month low last week, while permits for future home construction rebounded strongly last month, the U.S. Labor Department said in a Thursday report. Initial claims for state unemployment benefits fell 5,000 to a seasonally adjusted 388,000-from 393,000 the prior week, the Labor Department said. Economists had forecast claims rising to 395,000. Separately, permits for residential construction rose 10.9 percent to a seasonally adjusted annual rate of 653,000 last month, the Commerce Department said. However, new home construction fell 0.3 percent to annual rate of 628,000 units. The claims data covered the survey period for November's nonfarm payrolls. Claims dropped 16,000 between the October and November survey weeks, implying an improvement in nonfarm employment. The four-week moving average of claims, considered a better measure of labor market trends, fell 4,000 to 396,750-the lowest since April. The number of people still receiving benefits under regular state programs after an initial week of aid dropped 57,000 to 3.61 million in the week ended November 5. Economists forecast so-called continuing claims rising to 3.64 million from a previously reported 3.62 million. The number of Americans on emergency unemployment benefits slipped 18,358 to 2.94 million in the week ended October 29, the latest week for which data is available. A total of 6.77 million people were claiming unemployment benefits during that period under all programs, down 62,278 from the prior week.
