Unemployment claims dip; retailers report muted May sales |
| USA Today - Jun 2, 2011 |
Fewer people applied for unemployment benefits last week, but applications remain stuck at levels that signal weak job growth, and other economic reports Thursday were equally uninspiring.
The Labor Department said that the number of people seeking unemployment benefits for the first time dropped 6,000 last week to a seasonally adjusted 422,000. It was the third drop in four weeks. But the declines follow much bigger increases in April.
The four-week average, a less volatile measure, fell for a second week, to 425,500.
Applications dropped to 375,000 in late February — a level consistent with sustainable job growth. But for the past eight weeks, applications have stayed above 400,000. Applications peaked during the recession at 659,000.
Read Full Article from USA Today
- Posted: 2011-06-02 10:05:37
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