Thursday, October 11, 2012

Another positive jobs statistic

In a further sign that the economy is improving, the Department of Labor today reported that first-time Unemployment Insurance claims reached a four-year low on a seasonally-adjusted basis.

An estimated 339,000 initial claims were filed during the week that ended October 6--the lowest seasonally-adjusted figure since February 16, 2008, shortly after the start of the recession.

Weekly unemployment claims estimates bounce around a lot, are subject to revision, and can be hard to seasonally adjust. Still, the low figure is consistent with other positive estimates about the job situation.