Huge Drop In Unemployment First Time Claims Benefits

The AP is reporting:

The number of people applying for U.S. unemployment benefits fell 21,000 to a seasonally adjusted 323,000 last week, the lowest since late September and further evidence of an improving job market.

The Labor Department said Thursday that the less volatile four-week average fell for the third straight week to 338,500. Both figures are near pre-recession levels.

That "323,000" number is interesting: it is identical to the "323,000" number reported September 5, 2013. At that time, the four-week moving average was a much better 328,500. The headlines today on the jobs report were exciting but the numbers are still moving up and down within a range. 

The May 9, 2013, figure was also 323,000. But one has to admit, the "300-thousand" figures are a lot better than the "400-thousand" figures we were seeing back in early 2011.

It will be interesting to compare the current "downward" trend with the trend a year from now as ObamaCare starts to kick in for all Americans.