Jobless Claims Dip Slightly; Remain In Meaningless Zone

Weekly unemployment claims dipped by 14,000 last week bringing the total number of unemployment claims in the week of March 15-19 to 442,000, the Department of Labor reported today.

A drop is good, but economists say that claims should remain under 400,000 before unemployment can begin to lessen, so as usual, we have a ways to go.

The number of unemployed people claiming emergency extended benefits fell by 329,618; this isn’t because people have exhausted their benefits, but if something doesn’t happen soon, we will see thousands of people falling off the rolls simply because they’ve been unemployed too long.