Jobless Claims Hit Four-Year Low

Good news from the Labor Department: the number of people seeking first-time unemployment fell this week, hitting a four-year low, according to figures reported on Thursday. There were 339,000 new jobless claims last week, a 30,000 decrease from last week’s figure of 369,000. It brought down the four-week moving average to 364,000, a decrease of 11,500 from the previous average. The claims figure is the lowest since February 2008 and undershot economists’ expectations of 370,000—and also represents a 63,000 drop in initial jobless claims from one year ago.