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Jobless claims fall below “magic” 400k number

Some good news this morning from the Department of Labor. New jobless claims fell below 400,00 last week to 398,000. Considering that 400,000 is really a rather arbitrary number and is not some hard line where we are definitely creating more jobs than losing them, this really isn’t big news. Still, this is somewhat encouraging, and its nice to hear some good economic news headlines. Between the debt, and rumors of layoffs all over the place , its been pretty bleak reading out there.