US initial jobless claims drop by most in almost four years

Well, we do get a snap back in jobless claims after the big rise last week. We fall back to 231,000. That's below the estimate.Last week was revised up by a thousand, so it was 264. But remember, this was all in theory because of fraud in Texas. Texas officials say there were a whole lot of illegal filings the week before, and that looks like it is the case.The ongoing claims number is 1,920,000. that falls from 1,927. So the jobless claims numbers improve, take a little bit of that edge off in terms of wha ...