U.S. jobless benefits claims dropped unexpectedly in the week ended January 19 reaching its lowest level since January 2008, the Labor Department showed in a report on Thursday. The report said the number of applications for unemployment benefits declined by 5,000 to 330,000 last week, the lowest figure in five years, compared to economists predictions of 355,000 claims.
"The swings are attributable to the calendar," said Brian Jones, senior U.S. economist at Societe Generale in New York. "We're going to pay for this," he said. "Away from the calendar swings, the numbers are getting better," Jones said. "There's an improvement in the labor market that is in fact going on."