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U.S. jobless claims decrease

  • The number of Americans filing new claims for unemployment benefits unexpectedly dropped last week.

    The data, released on Thursday, suggests a much-needed boost for the labor market as well as economic growth.

    Initial claims for state jobless aid was down 7,000 to a seasonally adjusted 340,000, according to the Labor Department.

    It was the second consecutive weekly drop, beating economists' expectations for a rise to 355,000.

    Meanwhile, the four-week average for new claims fell 7,000 to 348,750, the lowest level since March 2008.

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