Jobless Claims Down For First Time Since April
Claims are down after four consecutive weeks going up.
The Labor Department said initial claims for state unemployment benefits dropped 12,000 to a seasonally adjusted 377,000. That was spot on the median forecast in a Reuters poll.
“The fact that the number didn’t back up is a strong sign that the economy is holding in,” said Carl Riccadonna, an economist at Deutsche Bank in New York.