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Jobless Claims in U.S. Unexpectedly Decline to Three-Year Low of 366,000
The number of applications for unemployment benefits unexpectedly dropped last week, falling for the first time to levels seen prior to the collapse of Lehman Brothers Inc., showing the U.S. labor market is healing. Jobless claims dropped by 19,000 to 366,000 in the week ended Dec. 10, the fewest since May 2008, Labor Department figures showed today in Washington. The median forecast of 47 economists surveyed by Bloomberg News projected 390,000. Slowing dismissals pave the way for an increase in employment that may help spur consumer spending, which accounts for about 70 percent of the economy, during the holiday ... (full story)
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