WASHINGTON (AP) — The number of Americans seeking unemployment benefits dropped 12,000 last week to a seasonally adjusted 334,000, a decline that suggests steady job gains will endure.
The less volatile four-week average decreased 7,250 to 345,250, the Labor Department said Thursday. Both figures are roughly 7,000 higher than month-ago levels, which were the lowest in five years.
Applications are a proxy for layoffs. Since January, they fallen 6.5 percent, suggesting employers are cutting fewer jobs.
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