Unemployment claims drop sharply

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Posted: Oct 28, 2010 9:15 AM by John Pastorek
Updated: Oct 28, 2010 9:15 AM
Source: Associated Press

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Topics: unemployment, benefits, jobs, jobless claims, Labor Department, Wall Street

Fewer people applied for unemployment benefits last week, the second drop in a row and a hopeful sign the job market could be improving.

The Labor Department said initial claims for jobless benefits dropped by 21,000 to a seasonally adjusted 434,000 in the week that ended Oct. 33.

That's the smallest number of claims since early July.

Wall Street analysts had expected a tiny increase.

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