Economics
U.S. Economy: Jobless Claims Fall, Home Sales Contracts Rise
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Applications for unemployment benefits fell more than forecast last week to the lowest level since April, a sign the weakness in the labor market is fading.
Jobless claims dropped by 24,000 to 398,000 in the week ended July 23, Labor Department figures showed today in Washington. The median estimate of economists in a Bloomberg News survey called for a drop to 415,000. Another report showed the number of contracts to buy previously owned homes unexpectedly rose in June.