Jobless Claims Drop To 197,000

WASHINGTON (AP) — Fewer people applied for U.S. unemployment benefits last week, as U.S. jobless claims remain at historically low levels and most Americans enjoy job security. The Labor Department said Thursday that 197,000 people applied for unemployment checks last week, fewest since mid-July and down from a revised 198,000 the week before. The four-week average of claims, which smooths out week-to-week ups and downs, fell to 202,250 last week from 204,000. Claims for jobless benefits are a proxy for layoffs, and economists watch them because they can be a sign of where the job market is headed. So far this year, claims have mostly stayed below 220,000 — historically low.