New applications for U.S. unemployment benefits recorded their biggest drop in nearly two years last week, pointing to a further tightening in the labor market.
"The lower jobless claims filings show the economy continues to show improvement which is important news with the long expansion expected to eventually tire somewhere down the line given its longevity," said Chris Rupkey, chief economist at MUFG Union Bank in New York.
http://www.reuters.com/article/us-us...KBN1781JE?il=0