US New Jobless Claims Fall for Second Straight Week

The US Labor Department said today that the number of new unemployment claims fell for the second straight week to a four-week low of 448,000. This is a drop of 11,000 from the previous week.

Despite the slowdown in new claims, the overall unemployment rate remains at 9.7 percent. While analysts are not convinced that employment numbers will show much improvement for some time yet, there is hope that unemployment has reached a peak.

Source: Associated Press

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