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Jobless claims drop

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Must Reads
Thursday, February 16, 2012

The number of people seeking unemployment benefits in Oregon dropped last week by 3,831, the second-biggest drop in the U.S.

 

[Nationwide,] weekly applications for unemployment benefits dropped 13,000 to a seasonally adjusted 348,000, the Labor Department said Thursday. It was the fourth drop in five weeks and the fewest number of claims since March 2008 — six months before Lehman Brothers collapsed and only a few months into the Great Recession.
The consistent decline indicates that companies are laying off fewer workers, and hiring is likely picking up further. When applications drop below 375,000, it usually signals that hiring is strong enough to lower the unemployment rate.

Read more at OregonLive.com.

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