U.S. jobless claims fell for the third consecutive week, reflecting that fact that layoffs are continuing to ease in the earliest stages of an economic recovery. The Labor Department reported Thursday that initial claims for state unemployment benefits fell to 530,000 last week from 551,000 the previous week. Economists expected a slight rise in jobless claims. The four-week moving average of jobless claims, which smoothes weekly fluctuations, fell to 553,500, the lowest level since late January though still far above the 325,000 weekly jobless claims typical in a healthy economy. The four-week average has fallen by about 100,000 since reaching a peak for the current recession in early April. Economists say jobless claims below 400,000 would indicate that employers are adding to the net total of jobs. The number of Americans continuing to receive jobless benefits fell 123,000 last week to 6.14 million. When federal emergency programs are included, the total number of jobless-benefit recipients was about 9 million last week, down slightly from the previous week. Congress has added up to 53 extra weeks of benefits in addition to the 26 usually provided by the 50 U.S. states. The large number of people receiving jobless benefits shows that unemployed workers are having difficulty finding new jobs. The recession, which began in December 2007 and is the worst since the 1930s, has eliminated a net total of 6.9 million jobs in the United States.
