Weekly jobs claims plunge
July 12, 2012
First-time claims for unemployment insurance fell by 26,000 during the week ended July 7 — the largest weekly drop since the one of the same magnitude during the week ended Jan. 14. The Department of Labor’s advance figure for seasonally adjusted initial claims for the week was 350,000. Since matching a high for 2012 of 392,000 during the week ended June 16, weekly job claims have dropped by 42,000. The four-week moving average was 376,500, a decrease of 9,750 from the previous week’s revised average.
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