U.S. Jobless Claims Unexpectedly Dip To Lowest Level Since Mid-July

(RTTNews) - A report released by the Labor Department on Thursday showed an unexpected decline in first-time claims for U.S. unemployment benefits in the week ended September 12th. The Labor Department said initial jobless claims fell to 196,000, a decrease of 10,000 from the previous week's unrevised level of 206,000. Economists had expected jobless claims to inch up to 208,000. With the unexpected dip, jobless claims dropped to their lowest level since hitting a multi-decade low of 189,000 in the week ended July 18th. "Jobless claims data continue to be consistent with a low pace of layoffs and a labor market that has struck a balance between a low rate of hiring and little growth in the labor force," said Grace Zwemmer, U.S.