The number of people filing new claims for unemployment benefits fell to a five-year low last week, the U.S. government reported Thursday. The Labor Department said weekly jobless claims fell 37,000 to 335,000, the lowest level since January 2008. It was the biggest weekly decline since February 2010. The four-week moving average of jobless claims, a less volatile measure that is considered a better gauge of labor-market trends, fell 6,750 to 359,250. While last week's decline ended four consecutive weeks of increases, it likely is not the beginning of a new trend or a sign of a significant shift in labor-market conditions, as jobless claims are typically very volatile in January. The number of people still receiving benefits under regular state unemployment programs increased 87,000 to 3.21 million last week. The four-week average of such continuing claims was the lowest since July 2008. Jobless claims remain at a level that suggests employers are hiring at a slow but steady pace. Job gains averaged 153,000 jobs per month in 2012, little changed from the previous year.
