In this March 3, 2012 photo, George’s restaurant employee David Lopez works on filling a customers order, in Waco, Texas. Fewer people sought unemployment benefits last week, adding to signs that the job market is strengthening. (AP Photo/Tony Gutierrez)CHRISTOPHER S. RUGABER, AP Economics Writer
WASHINGTON (AP) – Fewer people sought U.S. unemployment benefits last week, adding to signs that the job market is strengthening.
And in another reassuring sign for the economy, wholesale inflation remains mild outside of higher gas prices.
Applications for unemployment aid dropped 14,000 to a seasonally adjusted 351,000, the Labor Department said Thursday. That matches a four-year low reached last month. The four-week average, which smooths fluctuations, was unchanged at 355,750.
Applications have leveled off in the past few weeks after falling for six months. The average has declined 14 percent since October.