Summary Box: Jobless claims drop for 2nd week

AP News
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Posted: Oct 28, 2010 12:49 PM
Summary Box: Jobless claims drop for 2nd week

JOBLESS CLAIMS DROP: Fewer people applied for jobless benefits last week, the fourth drop in the past five weeks. That's a positive sign that the job market could be improving.

MORE, PLEASE: Still, the trend will have to continue for a few more weeks to signal that employers are really stepping up hiring. Unemployment claims are volatile and previous declines have been reversed.

UNEMPLOYMENT MAY RISE: Economists at BNP Paribas forecast that job creation in October has been weak. They expect unemployment will rise to 9.7 percent from 9.6 percent in September when the government issues its October jobs report this Friday.