Following on the heels of yesterday’s ADP survey concluding that 215,000 new jobs were created in the private sector, the most recent jobless claims data adds further evidence that the employment outlook is improving. According to the Labor Department, new claims for unemployment benefits fell by 20,000 to a seasonally-adjusted 368,000 new claims and is the best result since May, 2008.
“The downward trend in claims suggests that the labor market is getting back to health,” said Krishen Rangasamy, an economist at CIBC World Markets in Toronto.
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