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Jobless Claims in U.S. Unexpectedly Drop To Three-Month Low
Applications for U.S. unemployment benefits unexpectedly fell last week to the lowest level in three months, a signal the labor market may be starting to mend. Initial jobless claims decreased by 21,000 to 434,000 in the week ended Oct. 23, the lowest since early July, Labor Department figures showed today in Washington. The total number of people receiving unemployment insurance dropped to a two-year low, while those getting extended payments also fell. Consumer spending, which accounts for about 70 percent of the economy, is beginning to gain speed and may give companies reason to increase payrolls heading into the ... (full story)