US / Jobless claims drop to 5-1/2 year low

The number of Americans filing new claims for unemployment benefits fell unexpectedly last week, touching a 5-1/2 year low, suggesting a steadily improving labor market.

Initial claims for state unemployment benefits dropped 19,000 to a seasonally adjusted 326,000, the lowest level since January 2008, the Labor Department said on Thursday. Claims for the prior week were revised to show 2,000 more applications received than previously reported.

Chosen excerpts by Job Market Monitor. Read the whole story at 

via U.S. jobless claims unexpectedly drop to 5-1/2 year low – The Globe and Mail.