WASHINGTON — The number of people applying for U.S. unemployment benefits fell slightly last week as layoffs remain low and most American workers enjoy job security . The Labor Department said Thursday that initial jobless claims ticked down to 197,000 from a revised 199,000 the week before. The four-week average of claims, which smooths out week-to-week volatility, dropped by 2,500 to 198,000. Claims for jobless benefits are a proxy for layoffs, and economists watch them because they can be a sign of where the job market is headed. So far this year, claims have remained at a historically low level below 220,000. The report suggests that most companies are confident enough in the economy and their sales to hold onto their workers.
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