Jobless claims fall to lowest level since January

[DearAbby]

WASHINGTON - Fewer people are claiming unemployment benefits — but still too many to signal that the economy is close to gaining jobs.

First-time claims for jobless benefits dropped last week to a seasonally adjusted 502,000, the Labor Department said Thursday. That's the fewest claims since the week ending Jan. 3, and below economists' estimates.

Claims would have to fall to the high 400s to indicate the economy could soon produce even a slight gain in jobs, estimates Abiel Reinhart, an economist at JPMorgan Chase. That level of claims could be reached by January, he said, and the economy should start gaining jobs sometime in the first quarter of 2010.

More at Link
http://www.msnbc.msn.com/id/33881432/ns/business-stocks_and_economy/?ocid=twitter

[dontfollowmeb]

1. " Unemployment @ 10.2% "

[Captain Hilts]

2. Economists now follow the 'employed' numbers more than the 'unemployed' numbers as they

are more accurate to assemble and have more meaning.

[DJ13]

3. fall to the high 400s to indicate the economy could soon produce

even a slight gain in jobs


Why do these economic types always ignore it takes 150,000 new jobs created per month to just keep pace with the growing labor pool?

"Only" losing 400,000 per month actually puts us 550,000 jobs behind, theres no "gain" there.