The number of Americans filing new claims for unemployment benefits fell more than expected last week, offering fresh evidence that the labor market was gathering steam.
Initial claims for state unemployment benefits dropped 21,000 to a seasonally adjusted 283,000 for the week ended Feb. 14, the Labor Department said on Thursday.
"The jobs market has its pedal to the metal. We have crossed the dividing line where there are more signs of labor shortages now than there is an excess supply of discouraged workers pounding the pavement," said Chris Rupkey, chief financial economist at MUFG Union Bank in New York.
Economists had forecast jobless claims falling to 293,000 last week...
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Source: Lucia Mutikani (www.reuters.com)
