Jobless claims drop, point to stronger labor market

http://ift.tt/eA8V8J The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, a sign the labor market may be tightening. Initial claims for state unemployment benefits dropped 8,000 to a seasonally adjusted 287,000 in the week ended Sept. 27, the Labor Department said on Thursday. The trend suggest "labor market slack is on the decline," said Gennadiy Goldberg, an strategist at TD Securities. The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 4,250 to 294,750, just above an 8-1/2 year low hit in early August.



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