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Jobless claims dip in sign of expanding economy

Timothy R. Homan, Bloomberg News
Friday, May 14, 2010

(San Francisco Chronicle)  The number of Americans filing claims for jobless benefits dropped for a fourth straight week, a sign that employers are retaining more workers as the economy expands.

Initial jobless claims fell by 4,000 to 444,000 in the week ended May 8, higher than the median forecast of economists surveyed by Bloomberg News, Labor Department figures showed Thursday in Washington. The number of people receiving unemployment insurance increased and those getting extended payments fell.

Employers seeing improved sales and profits have added workers to payrolls in each of the past four months, signaling greater confidence in the recovery. Unemployment may take time to retreat as the number of job seekers entering the workforce exceeds available jobs.

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