WASHINGTON (AP) — The number of people applying for U.S. unemployment benefits fell 21,000 to a seasonally adjusted 323,000 last week, the lowest since late September and further evidence of an improving job market.
The Labor Department said Thursday that the less volatile four-week average fell for the third straight week to 338,500. Both figures are near pre-recession levels.
Applications are a proxy for layoffs. They had spiked in early October because of the partial government shutdown and processing backlogs in California. But first-time applications have now fallen in five of the past six weeks. The decline indicates that employers are laying off fewer workers.
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