Initial claims for unemployment fall more than expected

08/7/2009 | InvestmentNews (free registration) · Reuters

First-time claims for unemployment benefits fell to a seasonally adjusted 550,000 last week, the Labor Department reported. Analysts surveyed by Thomson Reuters had expected 580,000. "Claims should fall over the next few months, as the economy appears more or less to have stabilized," Ian Shepherdson, chief U.S. economist at High Frequency Economics, told clients.

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InvestmentNews (free registration) · Reuters

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