Smaller Unemployment Rolls
On Thursday, the Labor Department will release its weekly new unemployment insurance claims figure, hopefully adding to a recent string of encouraging reports. Last week, the department reported that for the week ending August 6, new weekly claims dipped to 395,000, a figure that helped spur a one-day Dow Jones Industrials gain of over 400 points. Jobless claims have held close to the 400,000 mark for three straight weeks, which many economists say is the threshold necessary to bring down unemployment. Another promising jobless claims report could go a long way towards bolstering confidence that the U.S. economic recovery still has some momentum.