Jobless Claims Decline to 4-Month Low |
| New York Times - Aug 11, 2011 |
The number of Americans claiming new jobless benefits fell to a four-month low last week, the Labor Department said in its weekly report, providing a rare ray of hope for the nation’s battered economy.
Initial claims for state unemployment benefits fell 7,000 to a seasonally adjusted 395,000, the Labor Department said, the lowest level since early April. Economists had expected a reading of 400,000.
“We are not necessarily on the verge of another dip in economic activity,” said Millan Mulraine, a senior macro strategist at TD Securities in New York.
“The level of claims at this point is more consistent with at least no deterioration in labor market conditions and at best an economy that is adding jobs at about 200,000” a month, Mr. Mulraine said.
Read Full Article from New York Times
- Posted: 2011-08-11 20:45:32
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