Thursday, February 02, 2012
New unemployment benefit claims fell more than expected last week, signaling strong growth for the nationwide jobs market.
Data on jobless claims zigzagged the last few weeks, but the figures suggest employers are less eager to lay off workers, offering hope they could also step up hiring as the economy recovers.
Initial claims for state unemployment benefits dropped 12,000 last week to a seasonally adjusted 367,000, the Labor Department said on Thursday.
Job growth has gained momentum in recent months and the unemployment rate dropped to a near three-year low of 8.5 percent in December, although dark clouds remain over the economy as Europe struggles with a sovereign debt crisis.
Read more at Reuters.