The LookoutNew jobless claims dropped last week, but still high
The number of Americans filing first-time claims for unemployment insurance dropped somewhat last week, the Labor Department said moments ago.
A total of 418,000 people filed initial claims for jobless benefits, a decrease of 14,000 from the previous week's revised figure of 432,000.
The four-week moving average, which smooths out volatility in the data, dropped by 3,000 from the previous week.
Still, experts say the number will need to drop below 400,000 before there's any real dent in the overall unemployment rate, which stands at 9.1 percent.
The government will release its jobs report for June tomorrow morning.
