AlHijjah 8, 1435, Oct 2, 2014, SPA -- The number of people filing new applications for U.S. unemployment benefits fell unexpectedly last week, while the total number of beneficiaries dropped to its lowest level in more than eight years, the government reported Thursday, signaling an improving labor market. The Labor Department said jobless claims fell 8,000 to 287,000 last week. The four-week moving average of claims—considered a better measure of labor-market trends because it smoothes weekly volatility—fell 4,250 to 294,750. Overall, 2.3 million people are receiving unemployment aid, the fewest since June 2006, or 18 months before the beginning of the Great Recession. Jobless claims have declined steadily since the country emerged from the 2007-2009 recession and are currently below levels when the economic crisis started. Claims are a measure of layoffs, and the recent drop suggests that employers are retaining their workers, likely because they expect continued economic growth and may be considering more hiring. The drop in claims has corresponded with stronger job gains for much of 2014. Employers added 142,000 jobs in August, down sharply from an average of 212,000 in the preceding 12 months. Economists believe the government's September job-creation report Friday will show a rebound from the previous month, with a consensus forecast that employers added 215,000 jobs.
