The number of people making new claims for unemployment benefits fell last week for the first time since April, the government reported Thursday, suggesting modest job growth following three months of slow hiring but also highlighting that the labor market remains weak. The Labor Department said initial jobless claims fell 12,000 to 377,000, in line with economist expectations. The four-week moving average of jobless claims, a less volatile measure considered a better gauge of labor-market trends, rose by 1,750 to 377,500, the highest level in a month. Before last week, jobless claims had risen in four consecutive weeks, adding to concerns over several months of weak hiring data. While the country emerged from a deep recession three years ago, the unemployment rate last month was 8.2 percent, well above its long-term historical average. Jobless claims are a measure of the pace of layoffs. When claims fall below 375,000, it generally suggests hiring is strong enough to reduce the unemployment rate.
