The stock market rose today with the news that first-time applications for unemployment benefits fell sharply in the nation last week to their lowest level in almost four years, according to the U.S. Labor Department.
Jobless claims sank by 50,000 to a seasonally adjusted 352,000 in the week ended Jan. 14, the Labor Department said today. That's the lowest level since April 2008.
The Labor Department also said continuing unemployment claims declined by 215,000 to a seasonally adjusted 3.43 million in the week ended Jan. 7.
The latest Wisconsin employment data is expected to be released later today by the Wisconsin Department of Workforce Development. Wisconsin has five consecutive months of private sector job losses.
The largest local gainers in the BizTimes Stock Index this morning were Joy Global Inc. (up $1.40 to $85.26) and Magnetek Inc. (up $1.12 to $14.46).
Stocks rise as national unemployment claims fall again
Operand type clash: text is incompatible with int
advertisement
Sorry, the story you tried to comment on is not accepting comments.