Jobless Claims Bring No Good News

Last week 423,000 Americans applied for unemployment benefits, 9,000 fewer than the week before but still, according to economists, too many.

Jobless claims need to remain steadily below 400,000 to signify the economy is improving, a milestone claims have failed to reach for even one week since August; the last time claims stayed under 400,000 for more than one week was in April.

Meanwhile, for the week ended Sept. 3, the most recent week data were available, 6,889,058 people (or a quarter million fewer than the previous week) were receiving some form of unemployment checks; that includes 3.3 million receiving regular state benefits and 3.0 million on emergency extended assistance.

Publish date: September 22, 2011 © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT