Unemployment claims drop

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Thursday, June 07, 2012

U.S. unemployment claims dropped last week for the first time in five weeks.

The Labor Department said Thursday that applications for weekly benefits dropped by 12,000 to a seasonally adjusted 377,000. That's down from an upwardly revised 389,000 the previous week.

"Although the labor market appears to have stabilized, and is stronger than it was in 2011, it is not particularly robust," Steven A. Wood, chief economist at Insight Economics wrote in a note to clients.

Read more at OregonLive.com.

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