Jobless claims post sharp decline
WASHINGTON -- The number of newly laid off workers seeking unemployment benefits dropped much more than expected last week.
The Labor Department reported Thursday that applications for unemployment benefits fell to 365,000, a decline of 18,000 from the previous week. Economists has been looking for a much smaller decrease of around 5,000.
Weekly jobless claims have been exceptionally volatile in recent weeks because of strike-related layoffs in the auto industry and an unusually early Easter which has played havoc with the government's seasonal adjustment measurements.
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