Official figures show that new claims for US unemployment insurance tumbled last week to the lowest level in 10 months. The figures suggest that the troubled US jobs market is stabilising.
The Labor Department said the number of people filing initial claims for jobless benefits fell to 381,000 in the holiday-shortened week ending December 3. Government offices were closed on the Thursday for Thanksgiving Day.
The weekly claims number was the lowest since late February 26. The Labor Department upwardly revised the previous week's reading by 2,000 to 404,000.
The report appeared to confirm a downward turn in claims. The four-week moving average last week fell by 3,000 to 393,250, the lowest since early April.
The unemployment rate sank to a 32-month low of 8.6% in November, down from 9% in October.
