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place three months after the flooding. so, thets do this. let s start with a glimmer of hopeful job news after a wave of grim economic reports. the number of americans applying for first time unemployment benefits fell last week. 473,000 initial jobless claims, down 31,000 from a week earlier, and the first drop in three weeks. patricia wu is break down the report for us. still a lot of claims, but what does that number really mean? what does it represent? well, it s still a lot, but wall street is going to take this one as good news. it s the only positive data we ve seen in a long time. a step in the right direction. analysts say the latest number supports the belief that the economy can avoid a double-dip recession. that number is still very high. this chart shows the new claims since 2007, before the recession started. new claims were around 300,000. that s the sign of a healthy economy. it peaked in 2009 when we were mired in the depths of the recession to around 650