Jobless claims show improving U.S. labor market

09/19/2013 | Bloomberg

Initial claims for U.S. unemployment benefits were up by a lower-than-expected 15,000 last week, although the number is distorted as two states address a backlog of applications. Despite the caveat, however, the labor market "is genuinely improving. Even if they're working through the backlog, these numbers seem to have a little bit more behind them than just processing problems," said Brian Jones, senior U.S. economist at Societe Generale in New York.

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