Jobless Claims Dip, GDP Growth Revised Up Slightly
The nation's economy grew at a slow 1.3 percent annual rate in the second quarter, the Bureau of Economic Analysis just reported. That's a slight upward revision from the agency's previous estimate of 1 percent growth vs. first-quarter 2011.
Also this hour, the Employment and Training Administration reported that 391,000 people filed first-time claims for unemployment insurance last week, a drop of 37,000 from the previous week. At 391,000, claims remained well above the level usually associated with a healthy economy — but were the lowest they'd been since late March and early April.
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