Weekly jobless claims decline by 27,000 to 451,000

http://www.marketwatch.com/story/jobless-claims-decline-by-27000-to-451000-2010-09-09-84800

WASHINGTON (MarketWatch) -- The number of people who filed new claims for unemployment benefits fell 27,000 to 451,000 in the latest week, reversing a recent run-up that stoked concerns of a weakening jobs market.

New unemployment applications shot as high as 504,000 in mid-August from 427,000 in early July, but claims have since dropped more than 10%, according to data from the Labor Department.

Although the economy is still weak and jobs are hard to find, the claims data is the latest in a string of reports that have eased concerns of a double-dip recession. U.S. stocks rose in Thursday trades and the price of bonds fell.

 

http://www.marketwatch.com/story/jobless-claims-decline-by-27000-to-451000-2010-09-09-84800

 

(if you still are bearish, you are in wrong side of river again. )