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Business Briefing / The Economy

Fewer people join ranks of jobless

July 10, 2009|Times Wire Reports

Even though new claims for jobless benefits fell more than expected last week, dropping below 600,000 for the first time since early January, the number of Americans seeking this safety net points to an economy that is still very weak.

Layoffs are slowing, but jobs are scarce, leaving nearly 7 million Americans collecting unemployment checks.

The number of newly laid-off workers seeking unemployment insurance fell by 52,000 to a seasonally adjusted 565,000, the Labor Department said.

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