The four-week moving average of jobless claims fell to its lowest level in 14 years Thursday, as layoffs continue to slow and the labor market picks up.
The Department of Labor reported Thursday that initial claims for unemployment insurance fell by 10,000 to 278,000 for the week ending Nov. 1.
That drop brought the four-week moving average for claims down to 279,000, the lowest level since April 29, 2000.
The total number of unemployed workers receiving benefits was 2,348,000. That number was also the lowest since 2000.
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