Jobless claims fall

[nmbluesky]

NEW YORK (CNNMoney.com) -- Initial filings for unemployment insurance fell to the lowest level in nearly three months last week, an encouraging sign ahead of the government's highly anticipated monthly jobs report due Friday.

The number of first-time filers for unemployment benefits fell to 445,000 in the week ended Oct. 2, down 11,000 from the week before, the Labor Department reported Thursday.

The number was lower than economists' forecasts of 455,000, according to consensus estimates by Briefing.com, but it still fell in a range that analysts say points to weakness in the job market.

"It's a good data point for the week," said T.C. Robillard, a senior research analyst for Signal Hill Capital. "But, historically speaking, these are still relatively high levels for where we are in the recovery."

The last time initial claims ticked below 450,000 was during the week ended July 10.

But overall, the weekly number has been stuck in a tight range since last November, hovering in the mid to upper 400,000s and even ticking slightly above 500,000 in mid-August.

The most recent four-week moving average, which is calculated to smooth out volatility, was 455,750.

Economists say they're looking for initial claims to fall to 400,000 or lower before they can say a jobs recovery has made noteworthy progress.
http://money.cnn.com/2010/10/07/news/economy/initial_claims/index.htm?cnn=yes&hpt=T2

[still_one]

1. It doesn't include those who off the roles and not counted. You need to see hiring /nt

[Clio the Leo]

2. We all need to hide under the bed and cross our fingers....

Last month, Gallup had the monthly unemployment figure (for August) at 9.4% .... the official number that came out the next day was 9.6%

The number for September, released by Gallup, is 10.1%

.... back to underneath the bed I go.

On the up side, I doubt very many voters were waiting on THIS very job report to decide how to vote. A great number wouldn't have changed a lot of minds and a really bad number wont either. The damage has been done in that regard.

http://www.gallup.com/poll/143426/Gallup-Finds-Unemployment-September.aspx

[WI_DEM]

3. Economically for the last month things have gotten better, but it's too late to help in November

[maryf]

4. And how many new jobs??? How many ran out???

numbers you won't see.

[golfguru]

5. Per todays Gallup numbers Unemployment is at 10.1%

http://www.gallup.com/poll/143426/Gallup-Finds-Unemployment-September.aspx