WASHINGTON — The number of newly laid-off workers seeking unemployment benefits fell last week to the lowest level since early July, evidence that job cuts are slowing. The Labor Department said Thursday that initial claims for unemployment insurance dropped to a seasonally adjusted 545,000 from an upwardly revised 557,000 the previous week.
The decline is the third in the past four weeks. The four-week average, which smooths out fluctuations, dropped 8,750 to 563,000 (see chart above).
MP: Since the early April peak, the weekly jobless claims (4-week moving average) have fallen in 17 out of the last 23 weeks.