This morning, the Department of Labor announced that weekly initial jobless claims remained high, at 456,000. That is a decline of 3,000 from last week’s claim,
“„Starting last spring, weekly initial jobless benefit claims slid downward. In the past few months, that decline has stopped. Essentially, the economy is improving but not adding nearly enough new jobs to bring the unemployment rate down, and if the unemployment rate does not come down, it slows down the recovery. Here is a chart of the claims since January 2008, with the stabilization around 450,000 on the right-hand side: