US Jobless Claims Plunge To 298k, As Layoffs Slow

Source: Associated Press

WASHINGTON (AP) — The number of Americans applying for unemployment benefits tumbled 23,000 last week to 298,000, nearly a six-year low that shows companies are laying off fewer workers.

The Labor Department said the less volatile four-week moving average declined 10,750 to 322,250.

Last week’s unemployment benefit applications nearly matched a September figure that was distorted by late reporting from California. When excluding the September report, last week’s figures were the lowest since May 2007.

Applications have now fallen in seven of the past eight weeks, a hopeful sign for job growth at the end of the year.

Read more: http://www.boston.com/business/news/2013/12/05/jobless-claims-plunge-layoffs-slow/Kp6oBZsbt7kd5k6b3IaGfO/story.html