Employment News
New Requests for Unemployment Benefits Drop
By victor | Dated: 08-26-2010
First-time claims for unemployment benefits fell more than expected last week, but remain well-above normal levels.According to the Labor Department, 473,000 new requests for unemployment benefits were made, a drop of 31,000 from the previous week. According to most economists, in a healthy economy first-time claims should be under 400,000.
First-time unemployment claims had risen each of the previous three weeks. That helped lead the four-week average, which is considered a less-volatile matrix, to rise to 486,750, which the Associated Press reports is the most since November 2009.
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