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Jobless Claims Fall Sharply

An estimated 435,000 people filed first-time claims for jobless benefits last week, the Employment and Training Administration just announced, down by 24,000 from the previous week.

According to the Associated Press, "many Wall Street economists expected a smaller decrease," and it's the third decline in the past four weeks.

Note: This report usually comes out on Thursdays, but federal offices will be closed tomorrow for Veterans Day. There's no indication in the report that the sooner-than-usual release had any impact on the numbers.