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Biggest jobless claims drop in 3 months

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Thursday, May 03, 2012
The number of people seeking unemployment benefits fell last week by the most in three months.

The Labor Department said Thursday that weekly unemployment aid applications fell 27,000 last week to a seasonally adjusted 365,000.
Applications are a measure of the pace of layoffs. When they fall below 375,000, it generally suggests that hiring will be strong enough to lower the unemployment rate.

Read more at OregonLive.com.

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