New jobless claims dropped to lowest level since January
WASHINGTON — The number of newly laid-off workers filing claims for unemployment benefits last week fell to the lowest level in 10 months, evidence that job cuts are easing as the economy slowly heals.
Still, companies are reluctant to hire, and economists expect the unemployment rate will tick up to 9.9 percent when October's figure is reported Friday. The jobless rate hit a 26-year high of 9.8 percent in September.
The Labor Department said Thursday that first-time claims for jobless benefits fell by 20,000 to a seasonally adjusted 512,000. That's better than economists' estimates of 523,000.
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Still, companies are reluctant to hire, and economists expect the unemployment rate will tick up to 9.9 percent when October's figure is reported Friday. The jobless rate hit a 26-year high of 9.8 percent in September.
The Labor Department said Thursday that first-time claims for jobless benefits fell by 20,000 to a seasonally adjusted 512,000. That's better than economists' estimates of 523,000.
keep reading...
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