Weekly Unemployment Claims Fall To Lowest Level In 4 Years

Source: USA Today

WASHINGTON – The number of people applying for unemployment benefits fell to a four-year low last week.

Weekly applications dropped 6,000 to a seasonally adjusted 357,000, the Labor Department said Thursday. That’s the fewest since April 2008.

The four-week average, a less volatile measure, fell to 361,750, also lowest in four years. The average has fallen nearly 13% in the past six months.

When unemployment benefit applications drop consistently below 375,000, it usually signals that hiring is strong enough to lower the unemployment rate.

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