Data Digest: Jobless claims fall more than expected
The numbers: Initial applications for unemployment benefits fell a seasonally adjusted 27,000 to 451,000 the week ending Sept. 5. Economists had predicted a decline of 2,000. About 4.5 million people continued to draw unemployment aid in the week ending Aug. 28, about 2,000 less than the previous week.
Quick take: The labor market seemed to be losing ground fast in August, but the pace of layoffs seems to have slowed in September. Along with the August payroll data, which showed continued private-sector job creation, this suggests that a slow but steady job market recovery remains intact.
What it means for you: Fewer layoffs, businesses aren't cutting back on jobs as quickly. The job market is looking better than it did a few weeks back.
Data Source: Labor Department
Washington Post editors
September 9, 2010; 4:25 PM ET
Categories: *Data Digest , Unemployment
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Posted by: pffeiffer | September 10, 2010 10:48 AM | Report abuse