Unemployment claims drop again
WASHINGTON - Unemployment claims dropped for the third time in four weeks, more evidence that the economy is gradually improving.
New claims for jobless benefits fell by 3,000 to a seasonally adjusted 450,000, the lowest level in two months, the Labor Department said Thursday.
Claims have fallen by 11 percent since mid-August after jumping to 504,000 in the week ending Aug. 14. The decline indicates layoffs are easing, even as the pace of economic growth has slowed since earlier this year.
The four-week average of new claims fell sharply to 464,750, down 13,500 from the previous week.
"This is a pleasant surprise," Ian Shepherdson, chief U.S. economist at High Frequency Economics, wrote in a note to clients. Still, the unemployment rate is stubbornly high, and there are no signs that companies are ready to add enough workers to change that.- AP
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Out East Show: Shrine of Our Lady of the Island, Browder's Birds & Sheep Shearing, and Bennett Shellfish in Montauk NewsdayTV's Doug Geed takes you to a few special places 'Out East'
