Jobless claims fall for third consecutive week

Data indicate employment may be stabilizing

WASHINGTON - The number of laid-off workers filing claims for unemployment benefits fell last week for the third consecutive time, signaling that the labor market may be stabilizing after a worrisome jump in layoffs earlier in the year.

The Labor Department reported Thursday that the number of applications for jobless benefits totaled 316,000 last week, a decline of 4,000 from the previous week.

The third straight drop in claims pushed them down to the lowest level in six weeks and provided evidence that the labor market is not seriously weakening even though the overall economy is slowing.