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4-week average unemployment claims lowest level since August 2008
Posted: Dec 16, 2010
Fewer jobless claims cap strong week for economy
Strong week for economy ends with report of fewer people applying for unemployment benefits
, On Thursday December 16, 2010, 11:13 am EST
WASHINGTON (AP) -- A further decline in the number of people applying for unemployment benefits capped a strong week for the economy.
Factories are producing more, shoppers are spending more and business executives and consumers are more optimistic. The latest reports, along with a tax-cut plan that Congress is set to pass, are leading economists to predict 2011 will be better than first thought and that hiring will pick up.
Weekly claims for jobless aid dipped by 3,000 to a seasonally adjusted 420,000 in the week ending Dec. 11, the Labor Department said Thursday.
The four-week average of claims, a less-volatile measure, fell for the sixth straight week to 422,750. That's the lowest level since August 2008, just before the financial crisis intensified with the collapse of Lehman Brothers.
Sorry, but this is pathetic. Want to be optimistic, but for - anyone to say "strong" regarding economy,
[ In Reply To ..]its gonna take a lot more than THIS news! The economy is still horrible, unemployment awful. The only reason anything is starting to improve is most likely because the president was forced to compromise regarding the tax issue, easing the minds of companies trying to decide about hiring.
Gee, I didn't know that. How wonderful...LOL - Backwards Typist
[ In Reply To ..]Come back in late January after the Christmas rush and Christmas returns are over and then post the employment numbers again.
Factories are producing more because the new models for 2011 are coming out. Even the government analysts state the economy won't be getting better until 2012 or later.
Unemployment claims are down because people have lost their benefits. They're still out there unemployed, with no cushion.
It will take a lot more than this little gem to convince me that things are getting better.
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