New Jobless Claims Drop To Three Month Low

10.28.10 | FL News Team

(Washington, DC)  --  The number of people filing first-time claims for jobless benefits fell by 21-thousand last week to a three-month low of 434-thousand.  The Labor Department also reports 122-thousand fewer people received continuing jobless benefits after their initial week of aid in the week ended October 16th.  That's the lowest level for continuing jobless claims in almost two years, putting the figure at more than four-point-three million claims.  Analysts say these new jobless numbers could be a sign that the anemic labor market is improving.

This more upbeat weekly unemployment report could affect the Federal Reserve's level of additional monetary easing that's likely to be announced next week.  The nation's central bank has cited stubbornly high unemployment and low inflation as key concerns regarding the slowing economic recovery in the U.S.