According to Bloomberg, jobless claims dropped to its lowest level in almost six years, as the labor market continues to improve.
The publication elaborated on the positive trend in a Thursday report:
The number of applications for unemployment insurance payments declined by 15,000 to 320,000 in the week ended Aug. 10, the fewest since October 2007, from a revised 335,000, a Labor Department report showed today in Washington.Sponsor Content
“The trend remains favorable,” Ryan Sweet, an economist at Moody’s Analytics in West Chester, Pennsylvania, said when analyzing the report. “The job market has improved since the July payroll reading.”