Initial Jobless Claims Down Last Week

Chicago, IL, Aug. 1, 2013 -- Initial claims for unemployment benefits fell to the lowest level since early 2008, according to the Labor Department.

Initial claims dropped by 19,000 to a seasonally adjusted 326,000 in the week ended July 27, marking the lowest level in five and a half years.

The claims data, however, often fluctuate in July because of periodic shutdowns at auto plants and other seasonal factors.