Good news in latest jobs stats
CNN reports: “Jobless claims drop to 382,000″
New jobless claims last week fell from a revised number of 405,000 the prior week to 382,000 — the lowest since the week of Feb. 8, and below the 400,000 level many economists consider a benchmark for labor-market weakness.
“Claims were above 400,000 from mid-February to mid-July, 22 straight weeks. After a brief recovery in late summer, claims rose again and hovered above the 400,000-per-week level throughout September. Still, the Labor Department reported recently that non-farm payrolls grew by 57,000 jobs in September.”
“The four-week moving average of new claims, which irons out the volatility of the weekly data, fell in the latest week to 393,500 from a revised 405,000 the prior week –again the lowest since the week of Feb. 8.”
A third measure, continued claims, people out of work for a week or more, “fell to 3.64 million for the week ended Sept. 27, the latest data available, from a revised 3.65 million the prior week.”
This is really starting to look like a turnaround. If it keeps up, maybe the Dems will have to find another campaign issue.
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