The Labor Department provided a sign that the job market may be creeping out of its dreadful depths. For the fourth consecutive week, the rolling four-week average of people applying for unemployment benefits declined. The 403,000 applicants in the span ending last week were down from 409,250 in the frame ending the week before.
According to MSNBC, the numbers are headed in the right direction, but it’s not quite time to celebrate yet. Economists say the figure needs to hover around 350,000 before we see a significant drop in the 9.1 percent unemployment rate.