Jobless Benefits Claims Continue To Fall
Thursday, September 16, 2010 at 9:53AM | Benny Martinez | Share Article | Email Article | Print Article According to the Department of Labor, new claims for unemployment benefits unexpectedly dropped for a second week in a row, falling for the third time in four weeks.
Claims have fallen by 11 percent in the past month, after jumping to 504,000 in the week ending August 14. The decline indicates layoffs are easing, even as the pace of economic growth has slowed since earlier this year.
The four-week average of new claims, which reduces volatility, fell sharply to 464,750, down 13,500 from the previous week.
The report follows other data earlier this week that shows the economy is still growing, but at a slow pace. Reports on retail sales and industrial production both showed modest gains.
Still, initial claims are still above levels that would signal widespread hiring. In a healthy economy, claims usually fall below 400,000.
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