Jobless claims drop near four-year low

WASHINGTON (Reuters) - New applications for unemployment benefits dropped to a near four-year low last week, a government report on Thursday showed, pointing to continued improvement in the labor market. The Labor Department said initial claims for state unemployment benefits dropped 50,000 to 352,000, the lowest level since April 2008 and the biggest drop since September 2005. The prior claims data was revised up to 402,000 from the previously reported 399,000. Economists polled by Reuters had expected claims to fall only to 385,000. ...