Jobs
US Initial Jobless Claims Dropped to Lowest Since May Last Week
- New filings fell by 4,000 to 217,000 after recent volatily
- The four-week moving average also reached its lowest since May
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Applications for US unemployment benefits fell to the lowest level since May last week, signaling there is still a healthy demand for workers after recent storms and strikes.
Initial claims decreased by 4,000 to 217,000 in the week ended Nov. 9. The median forecast in a Bloomberg survey of economists called for 220,000 applications.