Jobless Claims Heading in the Right Direction

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By Douglas A. McIntyre Updated Published
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The Labor Department has just released its data on weekly jobless claims and there was a drop of 43,000 to 440,000.  Bloomberg consensus estimates from economists was listed as 467,000 jobless claims.  Last week’s preliminary figure of 480,000 was revised to 483,000.  The four-week average also fell by 1,000 to 468,500.  The army of unemployed measured by the continuing jobless claims fell by 79,000 to 4.538  million, which is now the lowest level in more than a year.  It was easy to pick on the unemployment figure because of those ‘opt-outs’ and the drop, but this week’s jobless claims on a seasonally adjusted basis are probably going to be well received.

JON C. OGG
FEBRUARY 11, 2010

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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