National unemployment claims reach four-year low
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WASHINGTON -- The number of people seeking unemployment benefits has hit a four year low. In new data released Thursday, labor department officials say weekly applications dropped by 26,000 last week to a seasonally adjusted 350,000. That's the the lowest level since March 2008.
Officials say there are special, temporary factors that affect this week's report including a boost in production in the automotive industry. They say that led to fewer temporary layoffs than is normal in early July.