February 16, 2012
Unemployment Claims Lowest In Four Years
New applications for unemployment benefits fell to the lowest level in nearly four years last week, the U.S. Department of Labor reports.
The number of initial claims, on a seasonally adjusted basis, fell to 348,000, a decrease of 13,000 from the previous week. The four-week moving average was 365,250, down 1,750 from the week before.
The last time initial claims were lower was in March 2008, before the financial meltdown that hit in the fall of that year.
The news is just the latest positive sign for the U.S. economy, which added 243,000 jobs in January. The unemployment rate also fell to 8.3 percent last month.
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