Unemployment Applications Drop To Pre-Recession Levels
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Labor Department Seal (Flickr/ DonkeyHotey)
According to the Labor Department, the four-week average of jobless claims also fell to 351,750.
While this could be a positive sign of economic recovery, over the years layoffs have spiked in the second week of January and subsequently plummeted.
"The [Labor] department seeks to adjust for these seasonal trends, but the figures can still be volatile. If the trend holds up, fewer applications would suggest that the job market is improving," the AP reported.
However, BEA reports have been showing a steady, upward trend through last year, closing with a 3.1 percent growth in the third quarter.
Read the full story at The New York Times.
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Comments
.....what fu#####g bul####t ! - we're living in a 1984 novel where truth is falsehood and false is true.....so many more people are unemployed mow - they just arent counted because their benefits ran out and they stopped looking.....