Odaily News The number of Americans filing 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. U.S. Department of Labor data on Thursday showed that initial claims fell by 17,000 to 233,000 in the week ended August 3. States that have seen sharp increases in claims in recent weeks, such as Michigan, Missouri and Texas, saw fewer applications. 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 report 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 at this time of year due to school summer vacations and auto factory restructuring. (Jinshi)