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Economy

Jobless Claims Drop By 22,000, To Lowest Level Since July 2008

There were 391,000 first-time claims for jobless benefits last week, a decline of 22,000 from the week before, the Employment and Training Administration just reported.

It added that "the 4-week moving average was 402,000, a decrease of 16,500 from the previous week's revised average of 418,500."

According to ETA's historical tables, claims haven't been at or below 391,000 since early July 2008.

Still, as The Associated Press writes, jobless claims "need to dip consistently to 375,000 or below to indicate a significant decline in the unemployment rate."