News Summary: US jobless claims fall to 363K

News Summary: Weekly US jobless claims drop to 363,000, a level consistent with modest hiring

Associated Press

FEWER SEEK JOBLESS AID: Weekly applications for U.S. unemployment benefits dropped 9,000 last week to a seasonally adjusted 363,000, the Labor Department said Thursday. The level is consistent with modest hiring.

LITTLE CHANGE: Applications have fluctuated between 360,000 and 390,000 since January. During that time, employers have added an average 150,000 jobs a month and the unemployment rate has fallen from 8.3 percent to 7.8 percent.

JOBS REPORT: The government on Friday will issue the October employment report, the last broad snapshot of the economy before the election.

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