FinancialAdvisor's College Class (FACC)

[mick]

i don't know if you have this here this morning.

Job losses from hurricanes jump to 438,000
WASHINGTON (AP) — The number of people who have lost their jobs because of Hurricanes Katrina and Rita jumped to 438,000 last week as the economic shockwaves from the nation's costliest natural disaster continued to be felt six weeks after Katrina hit
The Labor Department reported that an additional 75,000 hurricane-related claims were filed last week.

Overall, first-time claims for state unemployment insurance benefits fell to a seasonally adjusted 389,000 in the week ended Oct. 8 from a slightly revised 391,000 the prior week, the Labor Department said.

Government analysts said that Katrina, which hit near New Orleans on Aug. 29, was still accounting for more layoffs than Rita, which came ashore near the Texas-Louisiana border on Sept. 24.

A four-week moving average of claims, which quells weekly volatility to provide a better sense of the pace of layoffs, fell to 395,750 from 404,500.

White House economic adviser Ben Bernanke said this week he is confident jobs in the hurricane-hit region would either return or be replaced by new work as the rebuilding progresses.

A third job-market barometer, the number of unemployed who continued to claim benefits after an initial week of aid, fell 5,000 to 2.87 million in the week ended Oct. 1, the latest period for which figures are available.