Weekly jobless claims sink near 2007 low
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The number of Americans seeking unemployment benefits dropped last week to almost the lowest level since 2007, a sign of the job market's improving strength.
Seasonally adjusted initial claims was 300,000, a decrease of 27,000 from the previous week's revised level, the Labor Department said Thursday.
The previous week's level was revised up by 1,000 from 326,000 to 327,000. The less volatile four-week moving average was 311,500, a decrease of 11,250 from the previous week's revised average. That is the lowest level for this average since August 11, 2007 when it was 311,250.
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