U.S. Jobless Claims Drop to 289,000
U.S. jobless claims dropped to 289,000, the year’s second-lowest level and a promising sign that the labor market is picking up momentum.
Initial claims for unemployment benefits decreased by 14,000 in the week ended August 2, the Labor Department said.
Claims for the previous week were revised up slightly to 303,000.
The four-week moving average of claims, which smooths out weekly volatility, decreased by 4,000 to 293,500.
It marked the best four weeks of claims data since February 2006. Thursday’s report showed the number of workers continuing to draw unemployment benefits fell by 24,000 to a seasonally adjusted 2.5 million in the week ended July 26.
Category: Featured, General Update
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