New claims for jobless benefits fell slightly last week after dropping sharply the previous week, the government said in a report Thursday that could ease worries the labor market is weakening. The Labor Department said jobless claims fell by 1,000 to 367,000 last week. The four-week moving average, a less volatile measure that is considered a better gauge of hiring trends, fell by 5,250 to 379,000. Jobless claims are a measure of the pace of layoffs. When they consistently stay below 375,000, it suggests job growth is strong enough to lower the unemployment rate, which currently stands at 8.1 percent. Jobless claims are falling again after rising for most of April. The spike in claims coincided with weaker hiring in March and April, raising fears that the job market was weakening after a strong winter.
