Republican Nightmares Come True: Weekly Unemployment Applications Drop to 2007 Numbers
By: Sarah JonesAug. 15th, 2013
The President might be on vacation, but he still finds ways to upset Republicans with good news. Yes, there was more welcome economic news on Thursday as the Labor Department said that weekly applications for unemployment insurance dropped to the fewest claims since October 2007.
The Labor Department said that the 4-week average was at the lowest since November 2007, according to The Washington Post. By either measurement, this is a great improvement, marking a 6-year low and that’s something to breathe a cautious sigh of relief over, if not celebrate (unless, of course, you’re cheering on the demise of America because a black Democrat is in office and you only feel “patriotic” when you win).
In the week ending August 10, the advance figure for seasonally adjusted initial claims was 320,000, a decrease of 15,000 from the previous week’s revised figure of 335,000. The 4-week moving average was 332,000, a decrease of 4,000 from the previous week’s revised average of 336,000.
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