Daily News: May 30, 2014

Four-Week Jobless Claims in U.S. Lowest Since 2007

Fewer Americans than forecast filed applications for unemployment benefits last week, a sign the labor market continues to strengthen, Bloomberg reported.

Jobless claims fell by 27,000 to 300,000 in the week ended May 24, a Labor Department report showed in Washington. The median forecast of 50 economists surveyed by Bloomberg called for 318,000. The four-week average declined to the lowest level since August 2007, before the last recession began, Bloomberg reported.

“Jobless claims are at a very low and attractive level, and that’s stimulating employment growth,” said Russell Price, senior economist at Ameriprise Financial in Detroit, who is among the top forecasters for claims.

To view the full Bloomberg report, click here.