Jobless claims fall for the fourth straight week in the U.S., even as more companies
announce layoffs.
The Department of Labor announced that the number of workers filling claims for
unemployment benefits unexpectedly fell by 1,000 last week, leading some experts
to predict that the labor market is holding up fairly well in the midst of
a turbulent stock market and weakening economy.
While the unemployment numbers offered at least some hope, the announcement
came while both Morgan Stanley and Lehman Brothers were stating that they
were cutting 1,000 and 1,300 jobs, respectively.
