New claims for unemployment benefits fell to a new four-year low last week, according to a U.S. government report Thursday that offered evidence the labor-market recovery was gaining momentum. The Labor Department said initial jobless claims fell 5,000 to 348,000, the lowest level since February 2008. The four-week moving average of jobless claims-considered a more reliable measure of labor trends-declined 1,250 to 355,000. The total number of Americans receiving unemployment benefits fell 9,000 last week to 3.35 million, the lowest level since August 2008.
