The US Department of Labor says jobless claims are at their lowest level since January 2008.
The number of people seeking new unemployment insurance benefits dropped by 19,000 in the week ending July, 27.
According to Market-Watch, July is an especially volatile period in the labor market.
The Labor Department says the 4-week moving average, dropped 4,500 from the previous week to an average of 341,250 claims.
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