Jobless Claims Drop Sharply : The Two-Way The number of Americans signing up for benefits dropped by 34,000, to a seasonally adjusted 388,000. It's the lowest level since July 2008.
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Jobless Claims Drop Sharply

The number of people filing first-time claims for jobless benefits fell by 34,000 last week, to a seasonally adjusted 388,000, the Employment and Training Administration just reported.

The Associated Press calls that a sharp decline and says it's a "positive sign that the job market is slowly improving."

At 388,000, the number is the lowest it's been since July 2008.

It's worth mentioning again that the figure is seasonally adjusted -- meaning that it's supposed to take into account the fact that the holidays are upon us.