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Article updated: 1/17/2013 9:24 AM

Jobless claims in U.S. fall to lowest level in five years

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Veterans wait to register at a job fair last March at the Intrepid Sea, Air and Space Museum in New York.

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The number of Americans filing first-time claims for unemployment insurance payments fell more than forecast last week to the lowest level in five years, pointing to further improvement in the labor market. Applications for jobless benefits decreased by 37,000 to 335,000 in the week ended Jan. 12, the lowest level since the period ended Jan. 19, 2008, Labor Department figures showed today. Economists forecast 369,000 claims, according to the median estimate in a Bloomberg survey.