News. WASHINGTON (Reuters) — The number of workers filing new claims for jobless insurance fell more than expected last week to a 10-month low, government data showed Thursday, pointing to a gradual improvement in the labor market (click on the chart to enlarge it).
Initial claims for state unemployment benefits dropped 20,000 to a seasonally adjusted 512,000 in the week ended Oct. 31, the lowest since early January, the Labor Department said.
Bottom line. The decline in unemployment claims is bullish for stocks.
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