Applications for US Unemployment Benefits Dip to 298K, Remain Near Pre-Recession Lows

The number of Americans seeking unemployment benefits slipped 1,000 last week to a seasonally adjusted 298,000, a low level that signals employers are cutting few jobs and hiring is likely to remain strong.

The Labor Department says the four-week average, a less volatile measure, dropped to 299,750. That's just 6,000 higher than four weeks ago, when the average fell to the lowest level in more than eight years.