Economics
U.S. Economy: Jobless Claims Unexpectedly Fell Last Week
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Claims for U.S. unemployment benefits unexpectedly dropped last week to a four-month low, signaling the job market is being hampered by a lack of hiring rather than more firings.
The number of applications for unemployment insurance payments fell 7,000 in the week ended Aug. 6 to 395,000, the fewest since early April, the Labor Department said today in Washington. Other reports showed the trade gap widened in June to the highest level since October 2008 and consumer confidence dropped last week.