August 26th, 2010
08:50 AM ET

Jobless claims slide more than expected

The number of first-time filers for unemployment insurance fell more than expected last week, according to a weekly government report released Thursday.

There were 473,000 initial jobless claims filed in the week ended Aug. 21, down 31,000 from an upwardly revised 504,000 the previous week, according to the Labor Department's weekly report.

Economists surveyed by Briefing.com were expecting new claims to fall to 485,000.

Claims had been stuck in the mid- to upper-400,000 range for about nine months, but spiked above 500,000 for the first time since November in last week's report.

FULL CNNMONEY.COM STORY

soundoff (3 Responses)
  1. rajudeshi

    I'm glad these short term thinkers are happy with today's job number, but the long term trend is ominous. Unemployment has only been rising, and only looks to get worse. I charted Unemployment data against the S&P 500 over the past 5 years. It's not pretty.

    http://www.hiddenlevers.com/hl/u?bQuYH7

    August 26, 2010 at 12:57 pm | Report abuse |
  2. KidKreole

    These facts gotta be wrong. Bama is president now.

    August 26, 2010 at 1:21 pm | Report abuse |
  3. CousinVinny

    AND????

    This just means those folks were dumped off the roster of the unemployed… not that they got jobs… just no longer getting unemployment checks!

    Thanks to the lack of a TIER~5 extension!

    August 26, 2010 at 2:22 pm | Report abuse |