Some good news on the jobs front:
New applications for U.S. jobless benefits plunged to the lowest level in 14 weeks, a possible sign that the massive wave of layoffs has peaked. Still, the number of unemployed Americans getting benefits climbed to a new record.
The Labor Department reported Thursday that the number newly laid off workers applying for benefits dropped to 601,000 last week. That was far better than the rise to 635,000 claims that economists expected.
But the total number of people receiving jobless benefits climbed to 6.35 million, a 14th straight record.
That last sentence is what Drudge is focusing on though:
Funny how Drudge parses headlines like that. We get good news that is even better than economists expected, so Drudge finds the bad data in the article and promotes that, even though that really isn’t news. For the 14 weeks we have been able to use that same headline.