Chart of the Day: New Unemployment Claims Drop Sharply

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Was last week’s unemployment drop a statistical fluke? There’s no way to say for sure, but I think the evidence suggests that it’s mostly quite real. Today, via Steve Benen, we get further confirmation of this: initial unemployment claims, which have been on a steady downward trajectory for the past two years, have dropped sharply over the past month, culminating in an unexpected drop of 30,000 in just the past week. The usual caveat applies: this is a noisy series and a single data point doesn’t prove anything. But this recent drop is in line with both September’s encouraging unemployment number as well as the overall trend of the past two years. Sorry, Jack.

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Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

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