Weekly initial unemployment claims decreased 15,000, or4%, from last week. This brought down the 4-week moving average to 366,250, it’s lowest level since May of 2008. The continued decline of initial claims indicate that our unemployment crisis is slowly resolving. However, the critically high levels of chronic unemployment show that we are still a long way from pre-recession stability. For more information, see our employment report.
-From the St. Louis Federal Reserve and the Bureau of Labor Statistics