Jobless claims in U.S. dropped last week from a one-year high

WASHINGTON - Filings for U.S. unemployment benefits declined last week from a more than one-year high, as a plunge in New York returned claims to a level consistent with a firm labor market. Applications dropped by 16,000 in the week ended May 14, the biggest decrease since early February, to 278,000, a Labor Department report…

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