Despite Initial Claims Drop, Over 20 Million Americans Remain On Unemployment Benefits

Read more on this subject: Economy – Recession-Depression
News Story Source: Zero Hedge
Despite reports that the the Government Accountability Office has found that the Labor Department has "consistently" provided inaccurate information on the state of the labor market, we continue to watch weekly jobless claims for signs of life (or near-death) in America's "recovering" economy.

After two weeks of disappointing rises, initial claims dropped this week to 712k (775k exp) from an upwardly revised 787k the prior week…

California saw a massive drop in initial claims (as the fraud is eradicated) while Illinois, Oregon, and Indiana saw saw rising initial claims…

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