The AP (8/8, Wiseman, Crutsinger) reports that according to new data released by the Department of Labor on Thursday, first-time jobless claims came in at 335,000 last week, up 5,000 from the previous weeks. The four-week moving average, which irons out week-to-week volatility, was 335,500, the “lowest level since November 2007, which was one month before the recession began.” However, while “most companies” are no longer cutting jobs, “many still remain reluctant to hire,” which is “bad news for the roughly 11.5 million Americans who are unemployed and a major reason the unemployment rate is still so high four years after the recession officially ended.”
The Wall Street Journal (8/9, Subscription Publication), Reuters(8/9, Lange), Bloomberg News (8/9, Chandra) and other media sources also cover the story.
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