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Claims for jobless benefits drop sharply

5 years ago July 15, 2010 Jul 15, 2010 Thursday, July 15 2010 Thursday, July 15, 2010 7:07:45 AM CDT in News
Source: Associated Press

New applications for unemployment benefits fell sharply last week as General Motors and other manufacturers skipped their usual summer shutdowns.

The Labor Department said that new claims dropped by 29,000 to 429,000, the lowest level since August 2008.

An analyst said the decline resulted from fewer layoffs by manufacturing companies than usual this time of year.

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