Jobs
US Initial Jobless Claims Decline by Most in Nearly a Year
- Initial applications fell 17,000 last week to 233,000
- Drop reflected states that had large jumps in recent weeks
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Initial applications for US unemployment benefits fell last week by the most in nearly a year, potentially alleviating some concerns that the labor market is cooling too fast following last week’s disappointing jobs report.
Initial claims decreased by 17,000 to 233,000 in the week ended Aug. 3, according to Labor Department data released Thursday. That was helped by fewer applications in states that had registered large increases in recent weeks, such as Michigan, Missouri and Texas.