U.S. Jobless Claims Fell to 254,000 Last Week

The number of Americans applying for first-time unemployment benefits fell last week, a sign of continued healthy momentum in the U.S. labor market. Initial jobless claims, a proxy for layoffs, declined by 11,000 in the week ended Nov. 5 to a seasonally adjusted 254,000, the lowest level in four weeks, the Labor Department said Thursday. Economists surveyed by The Wall Street Journal had expected 260,000 new claims.