U.S. Jobless Claims Declined More Than Forecast Last Week

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The number of Americans filing first-time claims for unemployment benefits dropped last week to the lowest level since April, a sign weakness in the labor market may be starting to abate.

Applications for jobless benefits decreased 22,000 in the week ended July 9 to 405,000, Labor Department figures showed today. Economists forecast 415,000 claims, according to the median estimate in a Bloomberg News survey. The data included fewer layoffs in the auto industry than typical this time of the year, according to an agency spokesman.