The number of people seeking unemployment benefits for the first time plummeted last week to 352,000, the fewest since April 2008, the Labor Department said Thursday. The decline added to evidence that the job market is strengthening.Read the rest here.
Weekly applications fell by 50,000, the biggest drop in the seasonally adjusted figure in more than six years. The four-week average, which smoothes out fluctuations, dropped to 379,000. That was the second-lowest such figure in more than three years.