The number of people filing initial applications for U.S. unemployment benefits fell to its lowest level in seven weeks, the government reported Wednesday, indicating the economy and job market are steadily improving. The Labor Department said jobless claims fell 9,000 last week to 280,000. The four-week moving average—a better measure of labor-market trends because it smoothes weekly volatility—fell 8,500 to 290,250. It has declined 16 percent in the past 12 months. Jobless claims are a gauge of layoffs. The number of people seeking unemployment benefits has been at low levels—below 300,000—for 14 of the past 15 weeks, indicating that companies are retaining their workers and perhaps considering hiring more. In November, U.S. employers added 321,000 jobs, the most in almost three years.
