October 21, 2004
HOPE, GROWTH, AND OPPORTUNITY:
Jobless Claims Dip; Labor Recovery Growing (JEANNINE AVERSA, 10/21/04, Associated Press)
The number of new people signing up for jobless benefits fell sharply last week, offering a dose of encouraging news that the recovery in the labor market may be strengthening a bit.
The Labor Department reported Thursday that new filings for unemployment insurance declined by a seasonally adjusted 25,000 to 329,000 for the week ending Oct. 16. That marked the lowest level since early September. In the prior week, claims had climbed by 16,000.
The latest snapshot of the layoffs climate was better than economists were expecting. They were forecasting claims to total in the 345,000 range.
No one switches the man on a white horse in the middle of a boom. Posted by Orrin Judd at October 21, 2004 10:59 AM