Jobless claims drop near four-year low

[ProSense]

Jobless claims drop near four-year low

WASHINGTON (Reuters) - New applications for unemployment benefits dropped to a near four-year low last week, a government report on Thursday showed, pointing to continued improvement in the labor market.

The Labor Department said initial claims for state unemployment benefits dropped 50,000 to 352,000, the lowest level since April 2008 and the biggest drop since September 2005. The prior claims data was revised up to 402,000 from the previously reported 399,000.

Economists polled by Reuters had expected claims to fall only to 385,000. Last week's claims data covered the survey period for January nonfarm payrolls and claims dropped by 14,000 between the December and January survey periods.

Payrolls increased 200,000 in December, with the unemployment rate dropping to 8.5 percent.

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http://news.yahoo.com/jobless-claims-drop-near-four-low-133415432.html

[LonePirate]

1. We may see the rate drop another tick or two on Feb. 3 but we still have too many people suffering.

At least we are moving in the right direction, even if it is not as fast as we would like.

Does anyone know if the bulk of the seasonal, post-holiday layoffs is reflected in the numbers from the past couple of weeks?

[ProSense]

2. Not sure. n/t

[Scurrilous]

3. Good news.