Fewer Americans applied for unemployment insurance for the first time in four weeks, but the number is still the highest since November, suggesting that the economy may be slowing down.According to the US Department of Labor, applications (PDF) for unemployment benefits for the week ending July 23 declined by 5,000 to 256,000 from the previous week’s 261,000. The number of claims for the week of July 16 was revised upward by 10,000 from the previous estimate of 251,000.The four-week average for claims, which smooths out some of the week-to-week volatility, rose by 6,250 from the previous week, to 249,500. That number is also at its highest level since November of last year.
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