The Labor Department has just released its data on weekly jobless claims and there was a drop of 43,000 to 440,000.  Bloomberg consensus estimates from economists was listed as 467,000 jobless claims.  Last week’s preliminary figure of 480,000 was revised to 483,000.  The four-week average also fell by 1,000 to 468,500.  The army of unemployed measured by the continuing jobless claims fell by 79,000 to 4.538  million, which is now the lowest level in more than a year.  It was easy to pick on the unemployment figure because of those ‘opt-outs’ and the drop, but this week’s jobless claims on a seasonally adjusted basis are probably going to be well received.

JON C. OGG
FEBRUARY 11, 2010