Unemployment Claims Remain High

Initial claims for state unemployment benefits dropped for a second straight week, slipping 6,000 to a seasonally adjusted 472,000 in the week ended Aug. 28, the Labor Department said.">New U.S. claims for unemployment benefits fell last week, government data showed Thursday, but were still too high to signal a change in fortunes for the troubled labor market.

Initial claims for state unemployment benefits dropped for a second straight week, slipping 6,000 to a seasonally adjusted 472,000 in the week ended Aug. 28, the Labor Department said.

Analysts polled by Reuters had forecast claims edging up to 475,000 from the previously reported 473,000 the prior week, which was revised up to 478,000 in Thursday's report.

Funny that the only thing "expected" is the consistent revising up up prior unemployment numbers. How the MSM can spin a reduction of 6000 from the prior weeks unemployment claims which were revised up by 5000 as good news is truly beyond comprehension.

Wonder how they'll spin this: Factory Order Growth Slides To 0.1% In July.