US jobless claims fall to five-month low


US jobless claims fell sharply for the third successive week last week, to their lowest level in five months, the US government said today.

Much of the fall to was due to seasonal factors.

The US Department of Labor said claims for state unemployment benefits in the week ended July 28thfell to 346,000, the lowest level since February and sharply below Wall Street expectations of a rise to 385,000.