Jobless claims drop

CNN article: The number of first-time filers for unemployment insurance fell more than expected last week, according to a weekly government report released Thursday.

"There were 473,000 initial jobless claims filed in the week ended Aug. 21, down 31,000 from an upwardly revised 504,000 the previous week, according to the Labor Department's weekly report."

"The latest numbers provide a sigh of relief to stressed financial markets and at least uphold the possibility that the economy can avoid a double-dip recession."

This is good news.

Full article at:

http://money.cnn.com/2010/08/26/news/economy/jobless_claims/index.htm?hpt=T2