New Jobless-Benefit Filings Plunge
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The number of new people signing up for jobless benefits dropped last week to the lowest level in more than three years, a potentially encouraging sign for a labor market experiencing a bumpy recovery.
The Labor Department reported that new applications for unemployment insurance plunged by a seasonally adjusted 39,000, to 310,000, for the week ended Saturday. That marked the best showing since Oct. 8, 2000. Economists were expecting claims to decline to about 345,000.
The more stable four-week moving average of new claims dropped last week by a seasonally adjusted 10,250, to 336,000, the lowest level since May 22.
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