Analysis: U.S. jobless claims fell by the most in nearly a year last week

The number of Americans filing claims for unemployment benefits fell by the most in nearly a year last week, following last week's disappointing jobs report, potentially easing some concerns that the labor market is cooling too quickly. Initial claims fell by 17,000 to 233,000 in the week ended Aug. 3, Labor Department data showed on Thursday. States that have seen big increases in claims in recent weeks, such as Michigan, Missouri and Texas, saw fewer claims. The drop in initial claims could help reassure markets that the labor force is only returning to its pre-pandemic trend, rather than deteriorating rapidly. Last week's weaker-than-expected nonfarm payrolls led to a global market sell-off and sparked calls for the Federal Reserve to start cutting interest rates before its September meeting. Initial claims data fluctuate this time of year as schools let out for the summer and auto factories restructure. (Jinshi)