Jobless Claims Fall to Near Four Year Low

Washington, DC, Jan. 19, 2012 -- Initial applications for unemployment benefits plunged last week to their lowest level in almost four years, according to the Labor Department.

Jobless claims sank by 50,000 to a seasonally adjusted 352,000 in the week ended Jan 14. It’s the lowest level since April 2008.

Economists had estimated claims would decline to 375,000 from 402,000 in the prior week.

The number of claims usually gyrates in January owing to the end of seasonal jobs filled during the holiday period running from Thanksgiving to Christmas.