The Job Market May be Improving

by
February 12, 2010

By: Associated Press

WASHINGTON — The number of newly laid-off workers seeking unemployment benefits fell more than expected last week to the lowest total in a month, a hopeful sign the job market may be improving.

The Labor Department said that first-time claims for unemployment insurance dropped by 43,000 to a seasonally adjusted 440,000. Wall Street economists expected a smaller decline of 15,000, according to a survey by Thomson Reuters.

A Labor Department analyst said the decline largely reflects the end of administrative backlogs in California and other states that had elevated claims in the previous three weeks. The backlogs represented claims that had built up over the Christmas holidays.

To continue reading: http://www.foxnews.com/politics/2010/02/11/jobless-claims-drop-expected/

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