Jobless claims plunge to lowest level since late July

WASHINGTON (AP) --New claims for unemployment benefits plunged last week to the lowest level in four months, providing a dose of encouraging news for workers who have been feeling the strain of the uneven economic recovery.

The Labor Department reported Thursday that new applications for unemployment insurance fell by a seasonally adjusted 25,000 to 376,000 for the work week ending Nov. 16. The decline left claims at their lowest level since the week ending July 20.

In the prior week, new claims for jobless benefits rose by 4,000.

The latest snapshot of the labor market was much better than analysts were expecting. They were forecasting a rise in new claims.