The number of U.S. workers initially applying for unemployment aid last week dropped below the threshold of 400,000 for the first time since Aug. 6, the U.S. Labor Department reported Thursday. The department said the advance figure for seasonally adjusted initial claims for jobless benefits was 391,000 last week, a decrease of 37,000 from the previous week’s revised figure. The fresh figure is also the lowest level in nearly six months, signaling improvement in the labor market. Fewer than 425,000 people applying for aid is consistent with modest job growth, but the number of jobless claims will have to fall to 375,000 or below to signal a sustained drop in the unemployment rate. (more…)
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