The number of Americans filing applications for unemployment benefits unexpectedly fell last week, a sign the job market is sustaining progress.
Jobless claims dropped by 8,000 to 287,000 in the week ended Sept. 27, from a revised 295,000 in the prior period, a Labor Department report showed today in Washington. The medianforecast of 49 economists surveyed by Bloomberg called for 297,000. Continuing claims decreased to an eight-year low.
Firings are hovering close to decade lows as employers benefiting from rising demand retain staff, laying the ground for more hiring and wage gains. A report tomorrow is projected to show employers added to payrolls in September and the jobless rate held at a six-year low.
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