According to a story from Associated Press, the number of people seeking unemployment benefits fell below 400,000 last week for the first time in four months, “a sign that the job market may be improving slowly after a recent slump.”
Applications for unemployment aid dropped by 7,000 to a seasonally adjusted 395,000, the Labor Department said Thursday. Applications had been above 400,000 for the previous 17 weeks. The four-week average fell to 405,000, its sixth straight decline and the lowest level since mid-April. That suggests layoffs have eased.
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