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U.S. Jobs Data Indicates Strengthening Economy

The number of people filing new claims for unemployment benefits in the United States fell last week to nearly its lowest level since before the 2007-9 recession, a sign of growing strength in the labor market.

Initial claims for state unemployment benefits dropped 1,000, to a seasonally adjusted 287,000, in the week ended Oct. 4, the Labor Department said on Thursday. Economists had expected claims to rise.

A separate report released on Thursday showed that wholesale inventories rose in August by the largest amount in four months, a sign the economy may have grown more than expected in the third quarter.

NY Times [1]

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