Jobless claims at 5-year low, Labor Department says

05/9/2013 | Reuters · Bloomberg

New jobless claims have fallen to their lowest rate in almost five and a half years, according to Labor Department figures. Employers are relying on existing staff to meet increases in demand, analysts say, so future gains will likely be contingent on an increase in hiring. "There is only so much companies can cut layoffs before they have to start thinking about adding to headcounts," said Guy Berger, an economist at RBS Securities.

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