Jobless Claims Fall To Lowest Level Since May

The number of new jobless claims fell to a seasonally adjusted 334,000 last week, down 24,000 from the week before according to the U.S. Labor Department. Economists say that the change reflects seasonal shifts in employment, not a permanent boost to the economy, Annalyn Kurtz from CNN Money reports. Because new jobless claims are reported on a weekly basis they are subject to high volatility and what looks like a spike or drop in job numbers may simply be noise. Most economists prefer to look at four-week averages to reduce the variance in their numbers, but that measure also dipped…