WASHINGTON (AP) — The number of people applying for unemployment benefits fell last week to the lowest level in nine months, that latest evidence that the job market is improving.
The Labor Department said Thursday that weekly applications dropped by 23,000 to a seasonally adjusted 381,000. That's the lowest number of applications since late February.
The four-week average, a less volatile measure, fell for the ninth time in 11 weeks to 393,250. That's the lowest average since early April. Applications that drop below 375,000 — consistently — tend to correlate with a steady decline in the unemployment rate.
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