Jobless Applications at Seven-Year Low

Washington, DC, May 15, 2014 — Initial applications for unemployment benefits fell last week fell to the lowest level in seven years, according to the Labor Department.

The government said initial claims decreased 24,000 to a seasonally adjusted 297,000 for the week ended May 10. That was the lowest level since May 12, 2007.

The four-week average dropped 2,000 to 323,250.