US dole claims down
THE number of Americans claiming new jobless benefits fell to a four-month low last week, offering a sliver of hope for an economy battered for days by a credit rating downgrade and falling share prices.
Initial claims for unemployment benefits fell 7,000 to a seasonally adjusted 395,000, according to the Labour Department.
This was the lowest level since early April and economists had expected a reading of 400,000.
"We are not necessarily on the verge of another dip in economic activity," said Millan Mulraine, a senior macro strategist at TD Securities in New York.