Good News: U.S. weekly jobless claims up 25,000 to 584,000

How is an increase in jobless claims good news, you ask?  Read on...  ...the four-week average of continuing claims fell by 131,750 people.  That means, although there's 25,000 new people who lost their jobs and filed claims, more people came off unemployment.  Is it really good news?  Well, they may have exhausted benefits - so maybe not.  Maybe the glass is only half full...

From the Wall Street Journal | July 30, 2009

WASHINGTON (MarketWatch) -- Initial weekly U.S. jobless claims rose by 25,000 to a seasonally adjusted 584,000 in the week ending July 25, the Labor Department reported Thursday. The climb was about in line with economists' expectations and was the highest level in a month. The four-week average of claims fell by 8,250 to 559,000, and continuing jobless claims also dropped, by 54,000 to 6.19 million. The four-week average of continuing claims fell by 131,750 to 6.41 million.