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Jobless Claims Decline

Wall Street Journal (02/07/13) Eric Morath; Sarah Portlock

The number of U.S. employees submitting first-time applications for jobless benefits declined last week by 5,000 to a seasonally adjusted 366,000, according to the U.S. Department of Labor. The four-week moving average, which smoothes out volatility, declined by 2,250 to 350,500. The last time the average level of claims was this low was March 2008, suggesting a modestly improving labor market.