US government figures show that the number of US workers filing new claims for jobless benefits last week fell to the lowest level since January.
Initial claims for state unemployment insurance dropped to 502,000 in the week ended November 7 from a revised 514,000 the previous week. Analysts has expected only a slight fall to 510,000.
The US economy lost 190,000 jobs last month and the unemployment rate hit 10.2%. While employers are cutting jobs at a slower pace than they were at the start of the year, economists expect the jobless rate to move higher before peaking in mid-2010.
President Obama has said his administration is considering a number of options to spur job growth, including ramping up government infrastructure spending and new business tax cuts. Today, he announced that the White House would hold a forum on jobs growth in December.
