The Canadian PressMarch 6, 2014 13:34
WASHINGTON - The number of people seeking U.S. unemployment benefits dropped 26,000 last week to a seasonally adjusted 323,000, the lowest level in three months as layoffs remain at pre-recession levels.
The Labor Department said Thursday that the four-week average of applications, a less volatile measure, fell slightly to a seasonally adjusted 336,500.
That average indicates that companies are cutting few jobs and anticipate steady economic growth despite the winter slowdown. Applications are a rough proxy for layoffs.