The Department of Labor reported today that the four-week average of initial unemployment claims fell to 443,000 for the week ending November 13, which is the lowest level since the first week of September 2008, more than two years ago (see chart above). The number of workers continuing to receive jobless benefits fell to 4,353,250 last week on a four-week average basis, the lowest level in almost two years since early December 2008.
Although it could be a lot better, the trends in jobless benefits are certainly moving in the right direction, and point to a labor market that is gradually recovering.
