Fewer Americans apply for jobless benefits

By MATT OTT
AP Business Writer

The number of Americans applying for unemployment benefits fell this week as the labor market continues to hold up in the face of the Federal Reserve aggressive campaign to cool the economy and bring down inflation. Jobless claims in the U.S. for the week ending April 1 fell by 18,000 to 228,000 from the previous week, the Labor Department said Thursday. The Labor Department said it revised the factors for its seasonal adjustments, which can cause big swings in the numbers. Applications for unemployment benefits serve as a proxy for the number of layoffs in the U.S.