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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (1375)	10/9/2003 8:56:55 AM
From: Andrew	Read Replies (1) \| Respond to of 110194

Wonder what they're going to revise this weeks numbers to. Jobless Claims Fall to an 8-Month Low October 09, 2003 08:31:00 AM ET WASHINGTON (Reuters) - The number of Americans lining up to file an initial claim for jobless aid fell last week to its lowest level in eight months, the government said on Thursday in a report that offered a hopeful sign layoffs were easing. First-time filings for state unemployment aid fell 23,000 to 382,000 in the week ending Oct. 4 from an upwardly revised 405,000 in the previous week, the Labor Department said. The drop brought initial claims to their lowest level since early February and suggested a bit more of an improvement in the labor market than expected by Wall Street economists, who had looked for a level of 393,000. Last week's drop in claims also brought a closely watched four-week moving average of initial filings, which smoothes weekly volatility to give a better reading of trends, to its lowest level since early February. The department said the average decreased 11,500 to 393,500 last week, marking its first drop below the key 400,000 level in six weeks. Economists say claims above 400,000 suggest a deteriorating jobs market, while claims below that level signal improvement. While the report suggested layoffs were slowing, it also showed unemployed workers were still having a tough time finding new jobs. For the week ended Sept. 27, the number of Americans on the benefit rolls after filing an initial claim fell by a slim 7,000 to a still-lofty 3.64 million. Although the economy emerged from recession in November 2001, it has lost over a million jobs since then. However, in September the recovery managed to eke out 57,000 new jobs.