US Jobless Claims at Lowest Levels Since 2007

Claims for jobless benefits unexpectedly dropped last week to the lowest level in almost six years, signaling the U.S. job market continues to mend.

The number of applications for unemployment insurance payments declined by 15,000 to 320,000 in the week ended Aug. 10, the fewest since October 2007, from a revised 335,000, a Labor Department report showed today in Washington. The median forecast of 44 economists surveyed by Bloomberg called for 335,000. There was nothing unusual in the data and no states were estimated, a Labor Department spokesman said as the data was released to the press.

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