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Politics : Liberalism: Do You Agree We've Had Enough of It?
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From: Kenneth E. Phillipps3/25/2010 8:52:39 AM
   of 224748
 
Initial jobless claims drop more than expected - Good News - Lowest since 9/08
(AP) – 15 minutes ago

WASHINGTON — New claims for unemployment benefits fell more than expected last week as layoffs ease and hiring slowly recovers.

The Labor Department said first-time claims dropped by 14,000 to a seasonally adjusted 442,000. That's below analysts' estimate of 450,000, according to Thomson Reuters.

But most of the drop resulted from a change in the calculations the department makes to seasonally adjust the data, a Labor Department analyst said. The department updates its methods every year. Excluding the effect of those adjustments, claims would have fallen by only 4,000.

The four-week average of claims, which smooths volatility, dropped by 11,000 to 453,750, the lowest since September 2008, when the financial crisis intensified.

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