Jobless claims drop by 23,000

Jobless claims drop by 23,000

Weekly applications for U.S. unemployment aid fell last week to a seasonally adjusted 369,000, a level consistent with modest hiring.

The Labor Department said Thursday that unemployment benefit applications dropped by 23,000, from a revised 392,000 the previous week. The four-week average, a less volatile measure, rose to 368,000.

The figures appear to have stabilized after being distorted in the previous two weeks by seasonal adjustment problems.

Read more in today's Oregonian.