Jobless Claims in U.S. Unexpectedly Decrease to 14-Year Low

Applications (INJCJC) for unemployment benefits in the U.S. unexpectedly dropped last week to their lowest level in 14 years as employers avoided trimming staff even as global growth weakens.

Jobless claims decreased by 23,000 to 264,000 in the week ended Oct. 11, the fewest since April 2000 and lower than any projection in the Bloomberg survey of economists, a Labor Department report showed today in Washington.

Read more: The labor market is showing an “improving trend"