The number of Americans filing new claims for unemployment benefits fell more than expected last week, offering hope that the sluggish labor market recovery may have picked up a step.
Initial claims for state unemployment benefits dropped 27,000 to a seasonally adjusted 341,000, the Labor Department said on Thursday. The prior week’s claims figure was revised to show 2,000 more applications received than previously reported.
Economists polled by Reuters had expected claims to fall to 360,000.
“This is consistent with the good news coming out of the employment market, signs that things are getting better,” said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.
The dollar rose against the yen, while prices for U.S. Treasury debt fell after the data.
So it is real? Buck? Anyone?