Unemployment applications drop to a 4-year low

February 16, 2012 12:40:09 AM PST
Weekly applications for unemployment benefits dropped 13,000 to a seasonally adjusted 348,000, the Labor Department said Thursday. It was the fourth drop in five weeks and the fewest number of claims since March 2008 -- six months before Lehman Brothers collapsed and only a few months into the Great Recession.

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