Initial jobless claims declined for the third consecutive week as the U.S. labor market continued its recovery from last year’s recession.
New claims for jobless benefits totaled 375,000 last week, the Labor Department said Thursday, matching estimates from economists surveyed by Dow Jones. The reading for the previous week was revised upward by 2,000 to 387,000 claims.
Jobless claims numbers have come down sharply since the spring as the economy has recovered, and they have settled near the 400,000 level in recent weeks. The four-week average is now 396,250 initial claims.
The latest jobless claims report, which reflects the first week of August, came a week after the July jobs report…