"Fewer Americans applied for unemployment benefits last week, suggesting hiring will pick up," the Associated Press writes.
According to the Employment and Training Administration, 404,000 people filed first-time claims for the benefits, down by 37,000 from 441,000 the week before.
The agency adds that:
"The 4-week moving average was 411,750, a decrease of 4,000 from the previous week's revised average of 415,750."
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