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Weekly Jobless Claims Hit 3.5-Year Low Weekly Jobless Claims Hit 3.5-Year Low

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Economy

Weekly Jobless Claims Hit 3.5-Year Low

Jobless claims fell sharply last week, hitting their lowest level in 3.5 years and continuing a recent positive trend for the economy.

Weekly applications for unemployment benefits fell to 366,000 last week, according to the Labor Department. Economists say claims need to remain below 400,000 in order to dent unemployment in the long-term.

 

The monthly unemployment rate in November hit its lowest level in two and a half years. 

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