U.S. jobless claims fall to lowest in four and half years |
| Reuters - Oct 11, 2012 |
The number of Americans filing new claims for jobless benefits slid last week to the lowest level in more than four and a half years, according to government data that may provide a boost to President Barack Obama a month before voters go to the polls.
The Labor Department report on Thursday was the latest data to suggest improvement in the jobs market, though the surprisingly large 30,000 drop in new claims may have reflected distortions due to seasonal adjustments that are likely to be smoothed out in coming weeks.
"The overall trend seems to be that the labor market is improving," said Brian Kim, a currency strategist at RBS Securities in Stamford, Connecticut.
A Labor Department analyst said seasonal factors had predicted a very large increase in claims last week, which he said would be typical for the first week of the quarter. Unadjusted claims did rise, but far less than expected, resulting in the sharp drop in the seasonally adjusted figure.
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- Posted: 2012-10-11 17:07:54
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