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The Boston Globe

Business

Applications for US jobless aid reach 5-year low

WASHINGTON — Fewer Americans sought unemployment aid last week, reducing the average number of weekly applications last month to a five-year low. The drop shows that fewer layoffs are strengthening the job market.

The Labor Department said Thursday that applications fell 10,000 to a seasonally adjusted 332,000. That reduced the four-week average to 346,750, the lowest since the week of March 8, 2008, three months after the Great Recession began.

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