The number of workers who filed for unemployment benefits for the first time last week fell unexpectedly---a possible sign that job losses in the U.S. could be moderating. It's the 4th straight week that jobless claims have fallen, as the Department of Labor reported today that first-time jobless claims decreased by 34,000 to 601,000, which was smaller than most economists had been anticipating.
The jobs outlook may plummet again tomorrow, as the government's release on the unemployment rate for April is expected to reveal a rise to 9.0 percent, from 8.5 percent in March. But for today, let's focus on the hope that this week's lower jobless claims could mean companies are beginning to slow the pace they are laying off employees.
