WASHINGTON -- The U.S. Labor Department said Wednesday the number of first-time applications for unemployment benefits dropped to a three-month low last week. Analysts said the decline was a sign the job market is rebounding.
Labor said initial jobless claims fell 12,000 to a seasonally adjusted 323,000 for the week ended Nov. 20.
Labor said the number of workers on the nation's unemployment rolls declined in the week of Nov. 13, the latest period for which the data is available.
That number -- known as continuing claims -- fell 29,000 to 2.76 million. The unemployment rate for workers with unemployment insurance held steady at 2.2 percent.
In all, 49 states and territories reported a decline in unadjusted initial claims for the week of Nov. 13, while four reported an increase. No state reported an increase of more than 1,000 claims.
