First-time unemployment claims fell under 300,000 for the first time since May 2007 in the week ending Thursday, the Bureau of Labor Statistics said Thursday.
In the week ending Sept. 7, first time claims dropped by a dramatic 31,000 to 292,000, the bureau said.
The government, however, said a data delay contributed to the decline, MarketWatch reported, meaning the data is skewed by circumstance. In effect, the weekly report will have an asterisk next to it.
The current four-week moving average fell by 7,500 to 321,250, BLS reported.
Copyright 2013 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Original headline: Jobless claims fall below 300,000, but with an asterisk
Most Popular Stories
- Fed Committee Optimistic About Growth Prospects
- Sales Show Samsung Needs Next Big Thing
- Boehner Says No to Palin's Call for Impeachment
- Judge Strikes Down Colo. Gay Marriage Ban
- Kerry Calls for Calm in Gaza
- U.S. Wholesalers Cut Stockpiles as Sales Weaken
- FOMC Minutes From June 17 Meeting: Full Text
- UAW Will Take Another Swing at VW Chattanooga
- Boeing Raises Forecast on Plane Demand
- Libyan Production Pushes Brent Crude Below $109