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Weekly Jobless Claims Fall

  • 11-16-2006
WASHINGTON (AP) -- The number of Americans filing claims for unemployment benefits dipped last week to the lowest level in a month, signaling that the labor market remains healthy in spite of the slowing economy.þþThe Labor Department reported that 308,000 newly laid off workers applied for jobless benefits last week, down by 2,000 from the previous week. It was the second consecutive weekly decline.þþWhile the creation of new jobs has slowed this year in the face of a sharp reduction in economic growth, employers have been reluctant to lay off existing employees. The unemployment rate dipped to a five-year low of 4.4 percent in October.þþ

Source: NY Times