Weekly Jobless Claims Drop Unexpectedly in Latest Week

Reuters
Unemployment Benefits
Alan Diaz/AP

By Lucia Mutikani

WASHINGTON -- The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, suggesting the labor market recovery was gaining traction.

Initial claims for state unemployment benefits dropped 3,000 to a seasonally adjusted 302,000 for the week ended July 12, the Labor Department said Thursday.