Applications for unemployment benefits declines

The number of U.S. residents seeking unemployment benefits dropped last week, a sign of continued job growth.

Applications for unemployment benefits fell by 6,000 during that time to 289,000, the lowest level since late October, according to an Associated Press report.

The four-week average fell by 750 applications to 298,750, according to the report, which cited data from the U.S. Department of Labor.

The average for applications has fallen nearly 13 percent during the past year, evidence that the job market is improving: hiring continues to go up and companies are cutting fewer jobs, according to the report.