Reginal Thomas
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Jobless Claims Fell Down To 2007 Levels Last Week


Jobless claims fell to 300,000, which was better than the expected 318,000, down from a revised 327,000 claims last week. While continuing claims dropped from 2,631,000 from 2,648,000 before. That's the lowest its been since 2007. Paul Ashworth of Capital Economics said in a note about the bad GDP the U.S. had in the first quarter, "it's worth remembering that employment increased by nearly 300,000 in April and jobless claims dropped to 300,000 last week. Those numbers point to a recovery gathering some real momentum at last. We still expect second quarter GDP growth to come in close to 3.5%"