WASHINGTON (AP) — The number of people seeking unemployment benefits fell last week below 400,000 for the first time in four months.
Applications for unemployment aid dropped by 7,000 to a seasonally adjusted 395,000, the Labor Department said Thursday. Applications had been above 400,000 for the previous17 weeks.
The four-week average, a less-volatile figure, fell to 405,000, its sixth straight decline. That suggests applications are decreasing over time.
Applications fell in February to 375,000, a level that reflects healthy job growth. They soared to an eight-month high of 478,000 in late April, and have declined slowly since then.