US jobless numbers fall sharply
The number of Americans filing new claims for jobless aid dropped by the most in a year last week, easing fears the labour market recovery was stalling, official data showed yesterday. But separate figures on the vast US services sector was less upbeat, with the rate of growth slowing more than expected and a gauge of employment falling to its lowest level in four months. Initial claims dropped 27,000 to a seasonally adjusted 365,000, the Labor Department said yesterday – the largest fall since May last year. However, the Institute for Supply Management said its services index fell to 53.5 last month from 56 in March, missing economists’ forecasts for a modest decline to 55.5, but still above the 50 “no change” mark.