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Jobless claims drop to three-year low

Thursday, April 8, 2004 | 9:18 a.m.

WASHINGTON -- The number of people filing new claims for unemployment benefits dropped last week to the lowest level in more than three years, a promising sign that companies feel better about the economy's prospects and are less inclined to get rid of workers.

The Labor Department reported today that new applications filed for jobless claims declined by a seasonally adjusted 14,000 to 328,000 for the week ending April 3. That marked the lowest level since Jan. 13, 2001.

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