US jobless claims fall below 300,000 level

WASHINGTON, D.C.: New claims for US unemployment insurance benefits dropped below 300,000 last week, pointing to an overall decline in the pace of layoffs, according to Labor Department data released on Thursday.

Would-be workers filed 283,000 initial jobless claims in the week ending February 14, a drop of 21,000 from the prior week’s unrevised level of 304,000, the department reported.