New filings for jobless benefits tumble

[bushisanidiot]

http://news.yahoo.com/s/ap/us_economy

"By JEANNINE AVERSA, AP Economics Writer Jeannine Aversa, Ap Economics Writer – 23 mins ago

WASHINGTON – The number of people signing up for unemployment benefits dropped to the lowest level in two months, an encouraging sign that companies aren't resorting to deeper layoffs even as the economy has lost momentum.

The Labor Department reported Thursday that new claims for unemployment aid plunged last week by a seasonally adjusted 27,000 to 451,000. Economists had predicted a much smaller decline of just 2,000.

The number of new claims filed in the previous week turned out to be flat, versus a small drop as first reported. But they fell sharply the week before.

New applications for jobless benefits shot past the half-million mark in mid-August, the highest level since November. Since that spike, they have drifted lower. New filings for jobless benefits are now at their lowest level since July 10.

Meanwhile, the four-week moving average of new claims, which smoothes out weekly fluctuations, also fell last week, dropping by 9,250 to 477,750. So did the number of people continuing to draw unemployment aid."


Slowly, but surely.. we're getting that damn car out of the ditch.

[ejpoeta]

1. in this instant gratification society, i'm sure it will not be fast enough

for people who will vote against their interests thus throwing us back into the ditch.

[galileoreloaded]

2. Nine states didn't report ie the holiday, so the Feds "estimated" their numbers ....

http://www.bloomberg.com/news/2010-09-09/u-s-trade-deficit-narrows-more-than-forecast-as-exports-hit-two-year-high.html

Just an FYI