Uploaded by FinancialNewsOnline on Dec 8, 2011
The Labor Department announced initial claims for state unemployment benefits fell 23,000 to a seasonally adjusted 381,000, the lowest since late February. That was below economists' expectations for a fall to 395,000.
The report, coming on the heels of data last week showing a rise in hiring and a sharp drop in the unemployment rate to 8.6 percent in November, pointed to some healing in a sector that has been the Achilles heel of the economy's recovery, Reuters reported.
Claims were the latest data to suggest acceleration in economic growth in the current quarter after output expanded at a 2% annual rate in the July-September period.
The report, coming on the heels of data last week showing a rise in hiring and a sharp drop in the unemployment rate to 8.6 percent in November, pointed to some healing in a sector that has been the Achilles heel of the economy's recovery, Reuters reported.
Claims were the latest data to suggest acceleration in economic growth in the current quarter after output expanded at a 2% annual rate in the July-September period.
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