U.S. Unemployment Falls
Applications for U.S. unemployment fell last week to a seasonally adjusted 369,000, a level showing an improving labor market.
The U.S. Labor Department reported Thursday that in the week ending October 20, unemployment benefits dropped by 23,000, from a revised 392,000 last week. The four-week average that is a less volatile measure rose to 368,000, an increase of 1,500 from the previous week’s revised average of 366,500.
The unemployment rate has fallen from 8.3 percent to 7.8 percent this year.
In another report, the Economics and Statistics Administration reported Thursday new orders for manufactured durable goods in September 2012 increased 9.9 percent, to $218.2 billion. Excluding transportation, new orders rose 2.0 percent.