First-time jobless claims fall

CNN Political Ticker

New York (CNNMoney) — The number of newly unemployed seeking jobless benefits fell more sharply than expected last week, according to the government’s latest reading on the state of the labor market.

There were 350,000 filing for initial jobless claims in the week, down from the 362,000 who sought assistance a week earlier. Economists surveyed by Briefing.com had forecast 375,000 would be seeking help last week.

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