Weekly Jobless Numbers Drop to Record Low

Claims see unexpected decline

hiring jobs

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According to reports, the number of Americans filing new unemployment benefits claims fell unexpectedly last week, touching a 5½ year low.

Claims for state unemployment benefits dropped 19,000 to a seasonally adjusted 326,000, the lowest level since January 2008, the Labor Department reported. Two thousand more claim applications were received for the prior week. Economists surveyed by Reuters expected first-time applications to rise to 345,000 last week.

Because of summer auto plant shutdowns, claims were extremely volatile in July, but the this latest report shows there a bright side to unemployment.