The number of Americans filing new applications for unemployment benefits fell sharply last week, signaling that job growth should remain strong in the months ahead.
The Labor Department reported that new claims for unemployment benefits fell by 20,000 last week to a new total of 314,000, far better than the 3,000 drop that analysts had been expecting. The improvement helped lowerthe four-week moving average of jobless claims to 333,000, down from 335,500 the previous week.
