Doesn't Anyone Talk About Unemployment Claims Anymore?

It doesn’t seem that the business press is paying any attention to the data on unemployment claims put out by the labour Department each week. These reports used to generally earn a small story or mention in a larger story on the release of other economic data.

The weekly data are erratic, but they do give a good current snapshot of the state of the labour market. The labour Department reported 415,000 new claims last week, partly reversing a big jump to 457,000 claims the prior week. The 4-week average edged by 1,000 to 430,000. The economy did not start creating jobs regularly after the last recession, until claims had fallen below 400,000 in the fall of 2003.

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