In another sign that the economy is stabilizing, the number of people filing for government unemployment insurance claims fell last week.
Jobless claims fell by 21,000 to 530,000 for the week ending September 19, the U.S. Department of Labor said on Thursday.
The 4-week moving average was 553,500, down 11,000 from the previous week’s revised average.
The drop in claims may mean employers are starting to slow the rate at which they are cutting jobs. The unemployment rate, which currently stands at 9.7 percent, is still expected many economists above 10 percent next year.