The number of Americans filing new claims for unemployment benefits fell more than expected last week, in the latest sign of tightening labor market conditions.
Other data on Thursday showed productivity growth slowed in the third quarter while compensation is steadily increasing without creating inflation pressures or weighing on profits.
Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 278,000 for the week ended Nov. 1, the Labor Department said.
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