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Jobless Claims Down: 11.7 Million Remain Unemployed

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Jobless claimsLast week fewer Americans filed for first-time unemployment benefits, perhaps lending some evidence to a recovering job market. According to the Department of Labor 346,000 people filed initial jobless claims last week 11,000 fewer than a week earlier.

Typically jobless claims numbers are adjusted up and down sometime later and are a volatile indicator from week to week of the job market.

Economists often point to a four-week moving average to help remove some of the volatility seen in week to week reporting.

The Labor Department will release its monthly jobs report on Friday and most economists expect the report to show 158,000 jobs were created in May.  an average of 173,000 jobs  each month have been reported over the last year,  so tomorrow’s numbers may signal a slight slowdown in hiring activity.

while the job market may be healing and recovering there are still nearly 12,000,000 people unemployed in the US.,  a staggering figure considering how the government  reports unemployment figures.  People who stopped looking for jobs altogether are not included  and the number reported monthly by the Department of Labor.


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