U.S. Jobless Claims Fall as Fewer Factories Shut Down

Fewer Americans than projected filed applications for unemployment benefits last week, reflecting a smaller number of factory closings for this time of year.

Initial jobless claims dropped by 29,000 to 429,000 in the week ended July 10, the fewest since August 2008, Labor Department figures showed today in Washington. The government anticipates an increase in temporary factory layoffs in early July that did not occur this year, leading to the decrease in applications, a Labor Department spokesman said.