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July 28th, 2011
08:35 AM ET
Unemployment claims fall bellow 400,000 for first time in 3 months
Finally, some better news about the job market: the number of first-time filers for unemployment benefits fell below 400,000 for the first time since early April.
There were 398,000 initial unemployment claims filed in the week ended July 23, the Labor Department said Thursday. That marks the first time since April 2, that the weekly initial claims number has fallen below 400,000, a level typically associated with payroll growth and a lower unemployment rate.
It also beats the 415,000 claims economists surveyed by Briefing.com had expected, and was 24,000 lower than the previous week.
FULL CNNMONEY.COM STORY
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i think the big business big wigs that took the jobs and paychecks to other countries, should be branded traitors, and not allowed back in the united states, and any bank accounts here frozen and taken away and put towards the checks for the elderly & disabled, and the rest put towards the debt problem.
I feel like this should be getting more coverage. Then again, when income disparity is growing at an alarming rate and the economy is on the verge of collapse due to defaulting on our debts, it's clearly more important for CNN to report on a Casey Anthony mask.
Work you and i speak the same language you want to make lots of money get a trade my wife went back to school when her son grew up and became a nurse and got a job at a local hospital and come to find out auto workers at the local gm plant make more than her with a 4yr degree and they have a high school diploma somethings not right why should you go to school when you can make as much or more without it
The college educated go to school to get the kind of jobs that don't require any physical labor. If and when these positions are available, yes there are tons of money to be made. But at this time, these positions are pretty much glutted. This is the gamble you take on choosing this route. On the other hand, the autoworkers aka the labor force is where work is almost always availabe. I guess it just depends on if want to get your hands dirty or not !!!!
I guess that Barack Obama must be tickled pink upon hearing this news. Anything to help him get reelected to the presidency while our country goes further down the drain with all this useless military spending and foreign aid to these overseas tyrants!!!
These figures can be taken two ways. Either people have stopped looking or all the companies doing layoffs have stopped bleeding. You can be terminated at an at will employer without reason and not be eligible for unemployment. It may also be good news, but don't expect any politician to tell you.