The outlook for the ailing US labour market brightened yesterday after data showed that the number of Americans seeking jobless assistance fell to its lowest point since December 2008.
The labour department said that new claims for jobless benefits fell by 14,000 to 442,000 last week – the smallest total in six weeks. Meanwhile, the number of Americans seeking unemployment assistance fell by 54,000 to 4.65m, the lowest in 16 months.
Hopes have been rising that the US economy is on the verge of large-scale job creation, reversing the losses incurred during the recession, when employers shed more than 8.4m positions and the unemployment rate soared to 10 per cent.
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