US Jobless Claims drops to 388,000, lowest since July 2008

By on Dec 30, 2010 in United States Comments

The number of workers in the US filing new claims for jobless benefits drops to 388,000 and was said to have been the lowest since July of 2008, and experts say the figure indicates that the condition of the labor market is continuously growing, according to US news sites on Thursday.

The report, which was based on the US Labor department, announced that the jobless claim last week that ended on December 25 reduced by 34,000 to 388,000, and apparently the lowest since July 2008 when it dropped to 400,000.

Initial unemployment claims of the previous week revealed that the 34,000 drop came from the revised figure of 422,000 that ended on December 18, according to the weekly report.

The four-week moving average was 414,000, and a decrease of 12,500 from the previous week’s revised average of 426,500.

The report also showed that the number of Americans who are filing for continuing claims for jobless benefits, or workers who filed for more than one week, went up by 57,000 to 4,128,000 in the previous week.

US economists told the news that jobless claims should maintain to be below 400,000 before a substantial gain in hiring is needed.

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