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Jobless Claims Plunge to Five-Year Low
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| Contributor | kal |
| Last Edited | kal Jan 05, 2006 04:45pm |
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| Category | Report |
| News Date | Thursday, January 5, 2006 10:00:00 PM UTC0:0 |
| Description | The number of newly laid-off workers filing claims for unemployment benefits fell to the lowest level in more than five years last week, providing strong evidence that the labor market is shaking off the effects of a string of devastating hurricanes.
The Labor Department reported Thursday that applications for unemployment benefits dropped by 35,000 to 291,000, the smallest number since Sept. 23, 2000, when the economy was in the concluding months of the longest economic expansion in history.
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