First-time jobless claims fell sharply last week, a positive sign in the job market's slow recovery. Those filing for unemployment benefits fell 26,000 to a u a seasonally adjusted 359,000, the best showing in more than two months, the Labor Department reported Thursday.
The four-week moving average, which is a better indicator of the job market's trend, also dropped, down 4,500 to to 374,000, after rising for six weeks.
The figure is finally back below the 375,000 economists argue reflects a healthier job market and a hiring pace by employers that is fast enough to bring down the unemployment rate, which now sits at 8.1 percent.
Unemployment has remained stuck above 8 percent since early 2009 and is a major hurdle for President Obama's reelection efforts.
The first of the two final monthly jobs reports is due out Oct. 5. The last one hits only days before the election.
