US jobless claims fall unexpectedly

rawstory

New claims for US unemployment benefits fell unexpectedly last week to 457,000, down 2.4 percent from the previous week, the Labor Department said.

Jobless claims fell by 11,000 in the week ending July 24, down substantially from the 464,000 level expected by analysts.

The jobless figures were lower, in part, thanks to fewer layoffs at car plants in Michigan and New York.

"This was against our expectations for a gain," said Andrew Gledhill of Moody's Economy.com.

German NTV

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