US weekly jobless claims drop to more than 48-1/2-year low

US weekly jobless claims drop to more than 48-1/2-year low

(Reuters) – The number of Americans filing for unemployment benefits unexpectedly fell last week, hitting its lowest level in more than 48-1/2 years, as the labor market continues to strengthen. Initial claims for state unemployment benefits dropped 8,000 to a seasonally adjusted 207,000 for the week ended July 14, the lowest reading since early December 1969, the Labor Department said on Thursday.

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