Jobless claims in the United States dropped by 19k to 366k according to the latest data released by the Labor department. This is the lowest level in three years. Economists expect that U.S. labor market is healing itself as the number of people claiming first time unemployment stays below 400,000. Employers have slowed down the pace of layoffs helping lower the number of unemployment claims. The November Non Farm Payroll report showed that 120k jobs were created and the unemployment rate dropped to 8.6%. The Fed in its rate statement earlier this week acknowledged that the labor market is improving. Read more
