Unemployment Claims Drop This Week, But Hiring Still Weak

By Christopher S. Rugaber


WASHINGTON -- The number of people seeking U.S. unemployment benefits fell last week, but the level of applications remains too high to signal a pickup in hiring.

The Labor Department said Thursday that weekly applications fell to a seasonally adjusted 386,000. That's down from 392,000 the previous week, which was revised up. The four-week average, which smooths week-to-week fluctuations, was mostly unchanged at 386,750.