While the media can only focus on the politically motivated Washington sex scandal, we were presented with another great economic indicator today … jobless claims were down 17,000. Also, many of the countries largest retailers reported sales higher than expected in September.
The number of newly laid off workers filing claims for unemployment benefits dropped last week to the lowest level in 10 weeks.
The Labor Department reported Thursday that 302,000 persons filed claims last week, the smallest number to show up at unemployment offices since the week ending July 22.
The level was down by 17,000 from the previous week and marked the second consecutive week that claims applications have fallen, providing evidence that the slowdown the economy has been going through since the spring has not triggered a big increase in layoffs. (The Examiner)