First Time Jobless Claims Drop Slightly
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First Time Jobless Claims Drop Slightly
The number of first-time jobless claims dropped slightly last week, the government said Thursday.
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WASHINGTON (March 18, 2010)--The number of newly laid-off workers who were seeking jobless benefits fell slightly last week for the third straight week, but initial claims remain above levels that would signal net job gains, the Labor Department said Thursday.

The Labor Department said new claims for unemployment insurance fell 5,000 to a seasonally adjusted 457,000, which nearly matched analysts' estimates of 455,000, according to Thomson Reuters.

The four-week average, which smoothes out fluctuations, dropped to 471,250.

Still, the average has increased by 30,000 since the start of this year, which raised concerns among economists that persistent unemployment could weaken the recovery.

The average is also far above the 400,000-to-425,000 level below which many economists say claims must fall before widespread new hiring is likely.

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