"Clearly, the direction of claims is encouraging"
- Millan Mulraine, a senior U.S. strategist at TD Securities
The number of Americans filing claims for jobless benefits fell by 12,000 to a seasonally adjusted 365,000 in the week ended September 1, the biggest drop since mid-July, the Labor Department said on Thursday. The previous week's figure was revised higher from 374,000 to 377,000.
"Clearly, the direction of claims is encouraging," said Millan Mulraine, a senior U.S. strategist at TD Securities in New York.
"We still have a long ways to go, and given our macro forecast for the rest of the year into next year I'm not expecting a further acceleration in the monthly employment gains," Joel Prakken, chairman of Macroeconomic Advisors, told CNBC.
Stocks closed higher on Thursday. The Standard & Poor's 500 advanced 2.04 per cent to 1,432.12. The Dow Jones Industrial Average climbed 1.87 per cent to 13,292.00. The Nasdaq Composite edged higher 2.17 per cent to 3,135.81.
© Dukascopy Bank SA