Ahead Of The Bell: Jobless Claims

WASHINGTON (AP) — Wall Street economists expect the number of newly laid-off workers seeking unemployment benefits fell slightly last week, after two straight increases renewed analysts' concerns about the weak labor market.

A Labor Department report is projected to show new unemployment insurance claims fell to a seasonally adjusted 565,000 from 576,000 the previous week, according to economists surveyed by Thomson Reuters.

Economists closely watch initial claims, which are considered a gauge of layoffs and an indication of companies' willingness to hire new workers.

While the figures are volatile, first-time claims have trended downward in recent months. Initial claims topped 600,000 for most of this year, until falling below that level in early July.

The four-week average of claims, which smooths out fluctuations, rose to 570,000 last week. That's about 90,000 below its peak for the current recession, in early April.

The total benefit rolls, meanwhile, are expected to remain essentially flat at 6.2 million. That's the lowest level for continuing claims since mid-April. The figures on continuing claims lag initial claims by a week.