Initial Jobless Claims drop to 5-Month Low

12748886The Labor Department reported that Americans filing for first-time unemployment benefits fell to a 5-month low, signaling ongoing strength in the job market. Weekly Initial Jobless Claims fell to 259,000, and below the 275,000 expected. Claims have been running below the 300,000 mark for a year, the longest stretch since the early 1970s.

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