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Jobless Claims Drop

Slowly but surely we recover from the mess George W. Bush and the Republican congress created.

First-time claims for jobless benefits dropped to a seasonally adjusted 550,000 for the week ending Aug. 1, down from an upwardly revised figure of 588,000 in the previous week, the Labor Department said.

That was much lower than analysts' estimates of 580,000, according to a survey by Thomson Reuters. And the four-week average of claims, which smooths out fluctuations, dropped to 555,250, its lowest point since late January.

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