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(Reuters) - The number of Americans filing new claims for jobless benefits dropped to a 3-1/2-year low last week, suggesting a weak U.S. economy is gradually improving even though factory data proved more mixed.
Initial claims for state unemployment benefits dropped 19,000 to a seasonally adjusted 366,000, the Labor Department said on Thursday. That was the lowest level since May 2008, and confounded economist' expectations for a rise to 390,000.
In a separate reports, two regional Fed business surveys showed stronger than expected growth in December.
The New York Federal Reserve Bank said its "Empire State" general business conditions index rose to 9.53 - the highest since May - from 0.61 in December. The index was boosted by a strong rebound in new orders and an improvement in hiring.
The Philadelphia Fed said its index of business conditions rose to 10.3 in December from 3.6 the previous month on a surge in new orders.
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Assuming the jobs numbers keep climbing, that should be enough for another 4 years.
