While you were sleeping Surprise drop in jobless claims

Thu, 11 Oct 2012

By Margreet Dietz Oct 12 (BusinessDesk) - Stocks received a boost from data showing that US jobless claims unexpectedly fell to the lowest level since February 2008, bolstering hopes the struggling labour market may finally show some signs of improvement. Initial claims for unemployment benefits dropped to a seasonally adjusted 339,000 in the week ended October 6, the lowest since February 2008. Economists polled by Bloomberg News and Reuters had forecast claims rising to 370,000. "The overall trend seems to be that the labor market is impro...

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