Applications For Unemployment Aid Drop To 390,000

By Derek Kravitz

WASHINGTON (AP) -- The number of people who applied for unemployment benefits last week fell to the lowest level since April, a sign that employers could be stepping up hiring.

The Labor Department said Thursday that weekly applications dropped to a seasonally adjusted 390,000. It was the third decline in four weeks. The four-week average, a less volatile measure, fell to 400,000, also the lowest point since April.