U.S. Jobless Claims Down

Unemployment reaches 6 million, but there are signs of stabilization

Even though jobless claims have reached 6 million total, there is some optimism for the job market. Signs of stabilization are appearing, since this week’s unemployment numbers are lower than expected. The Street reports on the latest unemployment data:

The Labor Department said Thursday that its tally of initial unemployment claims dropped to a seasonally adjusted 610,000 from a revised 663,000 the previous week. That was significantly below analysts’ expectations of 655,000 and the lowest level since late January.

The hope is that this new information points to a stabilization in the labor markets, and means that the freefall experienced by jobs lately is coming to an end. There is hope that economic stimulus measures may be kicking in to provide jobs.

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