Jobless Claims Hit 4-Year Low

In the latest sign of a strengthening job market, new claims for unemployment insurance dropped to a four-year low for the most recent week. Claims fell 5,000 to a seasonally adjusted 359,000, the Labor Department said. When applications for jobless benefits drop below 375,000, the data is usually accompanied by a fall in the unemployment rate, now holding at around 8.3 percent, The Associated Press reported. Despite the good news, U.S. stocks were down in trading Thursday on overseas worries. Thousands protested in Madrid Thursday and there were reports of clashes with police in anger over looming massive spending cuts, the AP reported.

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