Thursday, August 26, 2010

US Jobless claims drop 31,000 to 473,000

The number of people filing first-time claims for unemployment benefits fell for the first time in four weeks, down 31,000 to 473,000, the Labor Department reported Thursday.

Despite the decline claims are still at an elevated level that reflects the weakened state of the U.S economy. First-time filings for the latest week are higher by 4% compared to the start of 2010 and by nearly 11% since early July.

US initial claims - 473,000
Projected initial claims - 490,000
Previous week initial claims - 504,000
4-week average initial claims - 486,750
Previous week 4-weeks average initial claims - 483,500 

The full article is available from MarketWatch.

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