From the FINANCIAL TIMES:
New claims for jobless benefits in the US fell to the lowest level since 2008 last week, offering evidence that a labour market recovery is solidifying.
Initial jobless claims fell by 20,000 to 368,000, the labour department said on Thursday. That was a bigger drop than Wall Street analysts were expecting and pushed claims to their lowest point since May 2008.
The less volatile four-week average of jobless claims fell to 388,500. Economists have argued that requests for unemployment insurance needed to fall to less than 400,000 before the US economy can sustain significant job creation…
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