New Jobless Claims Drop
Posted on | May 28, 2009 | No Comments
According to the Labor Department, the number of initial claims for jobless benefits dropped last week to a seasonally adjusted 623,000. This is about 12,000 less than analysts’ estimates, signaling that employers may be cutting fewer jobs.
Unfortunately, the new applicants join the 6.16 million people already receiving unemployment benefits, driving the total to 6.78 million–the largest number since 1967.
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