Catherwood LibraryILR School

The number of people claiming jobless benefits dropped for the third straight week, after peaking at its highest level in 6 years on August 2nd. Applications for benefits dropped to 425,000 this week, still much higher than the 332,000 from the same week last year. At the same time however, the number continuing to collect unemployment rose again, to its highest level in nearly five years. The drop in applications may be due to a Labor Department outreach benefits program, but labor officials report that the effects of this temporary program have largely faded, so the decrease may be on the way out. Already, 2,000-some layoffs have been announced for next week.