Jobless claims decline for week

Jobless claims fell this week, belying fears that the labor market is weakening. First-time jobless claims fell by 1,000 to 301,000, the lowest level since early September, according to a report by the Department. The average number of workers fell by 14,000 to a fifteen-week low of 314,750 last week, and over the past four weeks, jobless claims have fallen by 56,000. The initial jobless claims report, released every Thursday, allows analysts to gauge the market by displaying how many people filed for unemployment insurance benefits, and therefore the relative health of the job market. Initial reactions to the decline in first-time jobless claims have been negative.