Initial Jobless Claims Drop 26,000 for Week

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First-time U.S. jobless claims fell by 26,000 last week to 299,000, the Labor Department said Thursday.The level was well below economists’ forecasts of a projected decline to 320,000 new claims, Bloomberg reported.The less-volatile four-week moving average fell to 314,750, the lowest since mid-November.The number of people continuing to collect benefits to 2.428 million from 2.431 million for the previous week ended Dec. 30.