The Canadian PressMay 23, 2013 11:41
WASHINGTON - The number of Americans applying for unemployment benefits fell 23,000 last week to a seasonally adjusted 340,000, a level consistent with solid job growth.
The less volatile four-week average ticked down just 500 to 339,500, the Labor Department said Thursday. That's close to the five-year low of 338,000 reached during the first week of May. The four-week average is 9 per cent lower than in November.
"The underlying story in jobless claims continues to be one of gradual improvement," Bricklin Dwyer, an economist at BNP Paribas, wrote in a research report.