It is a good thing, but where are the jobs at?
Fewer people are claiming unemployment benefits — but still too many to signal that the economy is close to gaining jobs.
First-time claims for jobless benefits dropped last week to a seasonally adjusted 502,000, the Labor Department said Thursday. That's the fewest claims since the week ending Jan. 3, and below economists' estimates.
Claims would have to fall to the high 400s to indicate the economy could soon produce even a slight gain in jobs, estimates Abiel Reinhart, an economist at JPMorgan Chase. That level of claims could be reached by January, he said, and the economy should start gaining jobs sometime in the first quarter of 2010. read more here...
Job creation MUST come in 2010 for the Democrats to survive the mid-term election. Period.