New jobless claims drop to 2-month low

WASHINGTON, Jan. 10 (UPI) -- The number of workers filing new claims for unemployment benefits fell to a two-month low last week, the U.S. Labor Department announced Thursday.

The Wall Street Journal said the report eased concerns a weakening job market might push the economy into recession.

Initial claims for jobless benefits fell 15,000 to 322,000 after seasonal adjustments last week, much better than the 4,000 increase economists had expected.

The four-week average of new claims fell 3,000 to 341,000. Claims for the week ending Dec. 29 were revised to 337,000 from 336,000.

The Labor report said the number of workers drawing unemployment benefits for more than one week fell 52,000 to 2.7 million in the week ended Dec. 29. That's the first drop in five weeks.