WASHINGTON (AP) — The number of people seeking unemployment benefits dipped last week, a sign the job market may be improving slowly.
Weekly applications for unemployment benefits edged down 1,000 to a seasonally adjusted 400,000, the Labor Department said Thursday. That's the lowest level in four months. The previous week's figure was revised upward from 398,000 to 401,000.
The four-week average, a less volatile figure, dropped for the fifth straight week to 407,750. That suggests there is a downward trend in layoffs.