US jobless claims down 18,000 in first week of April

WASHINGTON D.C.: Further indicating that the labor market was slowing, the number of people in the US filing new unemployment benefit claims dropped last week.

For the week ending 1st April, initial claims for state unemployment benefits dropped 18,000 to a seasonally adjusted 228,000, while data for the previous week was revised to show 48,000 more applications than previously reported.

As companies cope