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Thursday, July 15, 2010

Jobless Claims

Jobless Claims: Take the Latest Drop with a Grain of Salt

On the face of it, the large drop in new jobless claims last week is one of the single most encouraging signs the U.S. economy has seen lately. The drop of 29,000 to a level of 429,000 took the series to its lowest level so far this year. And given claims’ impressive track record in pinning turning points in the economy — including the recent soft patch — that should help soothe some double-dip fears.

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