On Thursday, it was reported that claims fell from 403,000 to 386,000 for the week ending on August 16th. In addition, the Conference Board?s index of leading indicators rose .4%, which was the fourth straight monthly increase. This index combines recent economic data into a forward-looking indicator and is meant to predict economic performance three to six months ahead. Whether the decline in new jobless claims will translate into actual employment growth is still questionable.
See "Fall in new jobless claims hints at a slow recovery", Reuters, The New York Times, August 21, 2003