The number of people filing for initial unemployment claims fell for the second week in a row, according to a U.S. Labor Department report.
Last week, people claiming unemployment benefits for the first time dropped by 6,000 to 472,000. The move downward was unexpected, as economists surveyed by Thomson Reuters expected a slight jump in the number of initial filings.
It’s still not at the sub-400,000 level economists want to see, which would signal a much healthier economy.
The number of people filing continued insurance claims also dropped, falling to 4.46 million. People in this group include those who have filed for unemployment, and have yet to run out of benefits. It’s a drop of 23,000 claims from the week before last, and the lowest level seen since late June, according to ABC News.