Computer Upgrades Trigger Significant Drop in Jobless Claims Thursday, September 12, 11:26 AM ET
This morning, the Labor Department reported initial jobless claims fell by 31,000 to a seasonally adjusted rate of 292,000 claims, but noted that a computer upgrade last week prevented two states from processing applications. The spokesman for the Department made it clear that the sharp drop in initial claims should not be read as an indication of a change in the labor market conditions, but did not go as far as to disclose which states did not process all of the applications for benefits.
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