WASHINGTON, July 24 (UPI) -- The number of Americans filing for unemployment benefits fell sharply, reaching an eight-year low, as the economy continues to improve leading to a stronger labor market.
The number of claims dropped by 19,000 to a seasonally adjusted 284,000 for the week ending July 19, according to the Labor Department. This is the lowest level seen since February 2006 and was below the 305,000 mark estimated by economists polled by The Wall Street Journal.