WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell 19,000 last week to a seasonally adjusted 326,000, the fewest since January 2008. The decline shows the job market continues to strengthen.
The Labor Department said Thursday that the less volatile four-week average slid 4,500 to 345,750. The July figures are typically volatile as the government has a difficult time adjusting for seasonal layoffs in the auto industry.
Still, the trend in weekly unemployment claims has been positive and offered hope that a better job market could help lift a sluggish economy later this year.
Applications, which are a proxy for layoffs, have fallen more than 12 percent this year. That's coincided with average job gains of 202,000 a month since January, up from an average of 180,000 in the previous six months.
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