Thursday, October 7, 2010

Number of Unemployment Claims Dropped Last Week

labor departmentThe number of people filing for unemployment benefits fell last week by 11,000 to a seasonally-adjusted 445,000, the Labor Department reported Thursday. It is the fourth time in five weeks that number has declined.

According to the Associated Press, the number of filings was the lowest since the week of July 10 and signals a decline in the number of layoffs nationwide.

The four-week average of new claims, which is considered a better measure because it helps smooth volatility, fell for the sixth straight week to 455,750.

The total number of people receiving unemployment benefits fell by 48,000 to 4.46 million. However, that doesn’t include millions of people that are receiving benefits under extended programs previously approved by Congress, the AP reports.

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