Thursday, July 08, 2004

New Jobless Thursday

NTodd leads us to the New Jobless numbers, with 39k fewer Lucky Duckies this week than last.

First-time claims for state unemployment insurance benefits plunged to 310,000 in the week ended July 3, down from a revised 349,000 the prior week, the Labor Department (news - web sites) said.

It was the lowest level since 302,000 in the week ended October 8, 2000.


"On the surface it looks like a good report but I would take that with a grain of salt because of this disentanglement with the seasonal adjustment factors," said Rick Egelton, deputy chief economist of BMO Financial Group in Toronto.