Jobless claims fall for 3rd straight week
7:49 AM
Posted: Thursday, August 28, 2008
WASHINGTON (AP) -- The U.S. government says the number of people signing up for jobless benefits declined last week, the third straight drop from a six-year high reached earlier this month.
The Labor Department says applications for unemployment benefits dropped to a seasonally adjusted 425,000, down 10,000 from the previous week. That was a slightly better figure than the 427,000 analysts expected.
Still, economists consider claims above 400,000 an indicator of a slowing economy. Companies have cut jobs every month this year as they grapple with rising energy costs and tighter credit.
The Labor Department says applications for unemployment benefits dropped to a seasonally adjusted 425,000, down 10,000 from the previous week. That was a slightly better figure than the 427,000 analysts expected.
Still, economists consider claims above 400,000 an indicator of a slowing economy. Companies have cut jobs every month this year as they grapple with rising energy costs and tighter credit.
Story Comments
Read More and Post Comments 0 comment(s)
Please note: The following are comments from readers. In no way do they represent the views of The Sioux City Journal or Lee Enterprises. We will not edit or alter your comments, but we do reserve the right to not post or to remove comments that violate our code of conduct. No comment may contain potentially libelous statements; obscene, explicit or racist language; personal attacks, insults or threats. Terms of Service
