US jobless claims hit lowest level in more than two-years

WASHINGTON, Dec 30 (BestGrowthStock) – New U.S. claims for
unemployment benefits dropped more than expected last week to
touch their lowest level in more than two years, suggesting the
labor market recovery was gaining strength.

Initial claims for state unemployment benefits fell 34,000
to a seasonally adjusted 388,000, the lowest reading since
early July 2008, the Labor Department said on Thursday. That
was well below economists’ expectations for 415,000.

The prior week’s claims figure was revised modestly up to
422,000 from the previously reported 420,000. A Labor
Department official said there was nothing unusual in the
state-level data and described the report as clean.

US jobless claims hit lowest level in more than two-years