The no. of Americans filing first-time claims for unemployment insurance payments fell more than forecast past week to the lowest level in 5 years.
Applications for jobless benefits decreased by about 37,000 to nearly 3,35,000 in the week ended January 12, 2013 the lowest level since the period ended January 19, 2008, US Labor Department figures showed.
Economists forecast 3,69,000 claims ,according to the median estimate in a Bloomberg survey.
A spokesman for the agency said the drop may reflect the difficulty the government has in adjusting the data after the holidays when seasonal workers are let go. Fewer claims indicate businesses have grown comfortable with their current headcounts,a necessary development before hiring starts to pick up.
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