Jobless Claims in U.S. Dropped Last Week From a One-Year High
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Filings for U.S. unemployment benefits declined last week from a more than one-year high, as a plunge in New York returned claims to a level consistent with a firm labor market.
Applications dropped by 16,000 in the week ended May 14, the biggest decrease since early February, to 278,000, a Labor Department report showed Thursday. The median forecast in a Bloomberg survey called for 275,000.