Stubborn Jobless Claims Move, But Not Enough
Jobless claims fell 11,000 last week to 445,000, the Department of Labor reported today, the lowest level since July 10.
The four-week average of jobless claims fell but 3,000 to 455,750.
The numbers are encouraging, but economists believe that jobless claims by first-time filers, which is what this number represents, must fall below 400,000 for any sort of economic recovery to take place.
Nearly 4.5 million Americans were collecting some form of unemployment benefits, in the week ended Sept.
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