New claims for unemployment dropped for the fourth straight week. That is the cheery spin being put on the unemployment numbers being released today.
Just how 'good' is it? Well according to the figures 80 people in your state dropped from the unemployment roles. Yup, that's it. The claims for unemployment went down 4,000 from the previous week which works out to 80 people per state.
New claims for unemployment benefits dipped for the fourth straight week, a sign the job market is improving at a glacial pace.
The Labor Department says first-time claims dropped last week by 4,000 to a seasonally adjusted 444,000. That's just above analysts' estimates, according to Thomson Reuters. The previous week's total was revised up to 448,000.
Of course this was accompanied with the news that the previous week's number had to revised upward. When hasn't it been revised upward?
Of course this doesn't mean they found work, it is just they quit filing for unemployment benefits.
I feel so much better now.
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