The number of Americans filing new claims for jobless benefits dropped more than expected last week to its lowest level in four months, a possible sign that hiring could pick up in July.
Initial claims for state unemployment benefits fell by 24,000 to a seasonally adjusted 334,000, the Labor Department said on Thursday.
Readings for jobless claims can be volatile in July because many factories close to retool during the period, and it is difficult for the government to adjust the data for seasonal swings because the shutdown schedule varies from year to year.
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