Average Jobless Claims Sinks To Its Lowest Level Since November 2007

Jobs unemployment officeREUTERS/Fred ProuserPeople search for jobs on computers at the Verdugo Jobs Center, a partnership with the California Employment Development Department, in Glendale, California.

The Department of Labour’s latest
report on initial unemployment insurance claimsis out.

Claims climbed to 336,000 from 323,000 a week ago.

This was a tad higher than the 330,000 expected by economists.

Despite the uptick, the level of claims still remain at pre-recession levels.

The 4-week moving average was 330,500, down from last week’s average of 332,750. This is the lowest level since November 2007.

Markets are doing little in the wake of the report.

Dow futures are up by 48 points.

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