BREAKING: Jobless claims plunge to lowest since May

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As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by WASHINGTONEXAMINER.COM:

New applications for unemployment insurance benefits dropped 18,000 to 214,000 in the first week of July, the Department of Labor reported Thursday.

Forecasters had expected around 225,000 new jobless claims. Instead, they fell more than expected to the lowest since May, when claims were plumbing the lowest levels since the 1970s.

The article goes on to state the following:

Low claims are a good sign. They suggest that layoffs are rare and that job creation is high.

The claims data for recent months show no signs that the unemployment rate, at a decades-low 3.8 percent, is heading back up. In fact, they indicate it has room to fall further.

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