Unemployment Claims Drop To Lowest Since Mid-July

WASHINGTON (AP) — Fewer Americans applied for unemployment benefits last week as layoffs remain scarce and most workers enjoy job security. The Labor Department reported Thursday that 189,000 people sought jobless aid last week, fewest since mid-July and down from 195,000 the week before. The four-week average of claims, which smooths out week-to-week ups and downs, dipped to 194,750. Applications for jobless benefits are a proxy for layoffs, and economists watch them closely because they can provide signs of where the job market is headed. So far this year, claims have remained at historically low levels, never topping 230,000 in a single week. They’ve come in at or below 200,000 for eight straight weeks