Less Unemployment Apps but Still Fewer Jobs

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The latest unemployment report released Thursday reveals the number of people applying for benefits dropped last week.

However, that drop isn't being seen by economists as a sign the job market is improving.

They say the main problem is that there are very few jobs for the 14 million people who are unemployed.

Applications dropped by 9,000 to a seasonally adjusted 423,000, putting jobless claims at about the same level they were four weeks ago, according to the Labor Department.

Applications typically need to fall below 375,000 to signal sustainable job growth. They haven't been that low since February.

"September is shaping up to be another difficult month for the job market," Ryan Sweet, an economist at Moody's Analytics told the Associated Press.

Most economists expect the economy will grow no more than 2 percent for the year.

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