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The Boston Globe

Business

US unemployment aid applications decline to 366K

WASHINGTON — Fewer Americans sought unemployment benefits last week, indicating companies continue to hire at a modest pace.

Weekly applications fell 5,000 to a seasonally adjusted 366,000, the Labor Department said Thursday. The four-week average, a less volatile gauge, fell to 350,500, the lowest in nearly five years. The average is low because of seasonal factors, which cut applications last month.

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