Jobless Claims Unexpectedly Drop to Lowest in 2 Months

Unemployment claims tumbled last week to their lowest level in two months, in a sharp drop that topped expectations and could signal that the economy is healing. New Labor Department data out Thursday showed that new jobless claims had fallen a seasonally-adjusted 29,000 from the week before to hit 343,000 — the lowest number in two months, and the second-lowest total all year. The drop in new claims defied economists' expectations of no change, and the four-week moving average dropped 27,000 to 381,500 accordingly. The number suggests that companies are laying off fewer workers, though data have yet to suggest a spike in hiring alongside that drop in job cuts.

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