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Unemployment benefits apps plummet

The number of people applying for unemployment benefits plummeted last week, reversing nearly all the sharp rise reported the previous week.

By Christopher S. Rugaber | Updated on May 12, 2011

WASHINGTON (AP) — The number of people applying for unemployment benefits plummeted last week, reversing nearly all the sharp rise reported the previous week.

The number of laid-off workers seeking benefits dropped 44,000 to a seasonally adjusted 434,000, the Labor Department said Thursday. That is the steepest weekly fall since February 2010.

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