The number of Americans filing applications for unemployment benefits unexpectedly dropped last week, showing further healing in the labor market. Jobless claims declined by 3,000 to 302,000 in the week ended July 12, a Labor Department report showed today in Washington. The median forecast of 51 economists surveyed by Bloomberg projected 310,000. The number of people continuing to receive jobless benefits fell to a seven-year low. Waning dismissals are signaling the labor market is gaining additional momentum five years since the end of the last recession. A pickup in hiring and drop in unemployment are among ... (full story)