Unemployment benefits sought by fewer people

• Published February 08, 2013 Modified February 07, 2013

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Fewer Americans sought unemployment benefits last week, indicating companies continue to hire at a modest but steady pace.

The Labor Department said Thursday that weekly applications for unemployment benefits fell 5,000 to a seasonally adjusted 366,000.

The four-week average, a less volatile measure, dropped to 350,500, the lowest in nearly five years. The average is low because of seasonal factors, which reduced applications sharply last month.

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