US applications for jobless benefits fall as labor market thrives

WASHINGTON, D.C.: The number of Americans applying for unemployment benefits fell last week, indicating that layoffs remain historically low despite the Federal Reserve's attempts to cool the labor market.

For the week ending May 18, jobless claims dropped by 8,000 to 215,000 from 223,000 the previous week, according to the Labor Department's report this week. The four-week average of claims, which smooths out w