New Unemployment Claims Drop Thursday, October 11, 10:52 AM ET
The Labor Department reported on Thursday that the number of Americans that filed new claims for unemployment benefits dropped to the lowest level in more than four and a half years. Initial claims for state employment benefits fell by 30,000, to a seasonally adjusted level of 339,000, the lowest since February 2008, while last week's figure was revised upward to show an additional 2,000 applications. Economists had forecast that the claims would increase to 370,000 last week, while the four week average fell b 11,500 to 364,000.
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