Washington: The number of Americans filing claims for unemployment benefits unexpectedly fell last week,but the decline likely overstates the health of the labor market.
Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 196,000 for the week ended September 12, the Labor Department said on Thursday. Economists polled by Reuters had forecast 208,000 claims for the latest week. The surprise drop likely reflected volatility around last week's Labor Day holiday. Claims are difficult to adjust for seasonal fluctuations around moving public holidays.
