The Good And The Bad In The Unemployment Numbers

The Labor Department has reported that the number of Americans filing continuing claims for unemployment benefits has dropped slightly.
The Labor Departments four-week moving average reported 6.69 million continuing claims for the week of June 6th (the latest available data) which is a drop of 148,000 claims.
The drop represents the largest since 2001 and the first ever decrease in continuing unemployment claims since the beginning of 2009.
However, initial claims for unemployment benefits rose slightly by 3,000 claims to 608,000.
345,000 jobs were lost in May of 2009, which the Labor Department reports as bringing the total number lost since December 2007 to 6 million jobs.
The Obama administration responded saying that they plan to accelerate the implementation of the economic stimulus plan. The stimulus plan will bring $787 billion dollars to bear against the slumping U.S. economy.