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US Jobless Claims Fall to 6-year Low


The number of Americans signing up for unemployment compensation has fallen to the lowest level in six years.

Thursday's report from the Labor Department says the average number of people asking for compensation each week fell by an average of more than 6,000 over the last month.

That pushed the average number of jobless claims down to just 335,500 per week. The claims are a way of tracking layoffs, which have not been this low since late 2007.

Economists say this means the battered U.S. job market is improving.

The U.S. unemployment rate has fallen to 7.4 percent, which is an improvement, but it remains well above the five or six percent rate that has been the norm over the past couple of decades.

Some information for this report was provided by AP, AFP and Reuters.
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