Membership
Letter to readers about the new California section

Topics

Economic Indicator
Weekly jobless claims hit 14-year low despite global economic trouble
Weekly jobless claims hit 14-year low despite global economic trouble

Initial claims for jobless benefits fell sharply last week to their lowest level in 14 years as the labor market continued to show signs of improvement despite global economic problems. The number of people filing for first-time unemployment benefits dropped to 264,000, down 23,000 from the previous week's revised figure, the Labor Department said Thursday. The number of claims last week beat the previous post-Great Recession low of 279,000, reached in July. At the depths of the downturn, in late 2008 through mid-2009, initial jobless claims were running at twice the current level. Economists had expected claims to rise slightly last week. Instead, they were at their lowest point...

Loading