Jobless Claims Dip but Labor Market still Weak

July 10, 2008 6:38:48 AM PDT
Fewer people signed up for unemployment benefits last week, but not enough to obscure continuing weakness in the country's labor market. The Labor Department reported Thursday that new applications filed for unemployment insurance fell by a seasonally adjusted 58,000 to 346,000 for the week ending July 5. A year ago, the figure was lower, at 304,000. The difference shows a deterioration in employment conditions.