Weekly Jobless Claims Below 500,000

The number of laid-off workers filing unemployment claims dropped more than was expected last week. The number is now at the lowest it’s been in over a year. There is concern that the improvement is temporary, due to the weak economy continuing to push joblessness rates higher.

The Department of Labor says that the number of people that are filing first-time claims for jobless benefits dropped by 35,000 to under 466,000. The number of workers receiving benefits fell sharply, dropping by almost 200,000 to roughly 5.4 million.

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