Jobless claims fall to lowest level since July of '08

The Labor Department says applications for unemployment benefits dropped sharply last week to the lowest number since July of 2008. Analysts are calling this development

WOODBURY - The Labor Department says applications for unemployment benefits dropped sharply last week to the lowest number since July of 2008. Analysts are calling this development a positive sign that the job market is slowly improving.However, economists say jobless applications need to fall lower still to indicate a significant decline in unemployment.

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