Despite the drop in claims, they still remain at levels higher than consistent with an economy that is adding jobs.
The Labor Department said today that first-time claims for unemployment insurance fell by 5,000 to a seasonally adjusted 457,000—the lowest since the week of Sept. 6 2008.
After shedding jobs for the longest stretch since World War II, the ongoing decline in claims signifies that employers could start adding jobs by as early as January or February.
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