Jobless Benefit Claims Fall to 13-Month Low

The number of workers filing new claims for unemployment benefits last week dropped to the lowest level in more than a year.

States received 383,000 initial applications in the week that ended Saturday, a decline of 32,000, the Labor Department said. The decrease, the third straight, brought new claims to the lowest level since the week ended May 5, 2001.

The less volatile four-week moving average of first-time claims fell to 411,250, the lowest level since late March, from 419,750 the previous week.

Claims have averaged 412,000 this year, higher than last year’s average of 406,000.