U.S Unemployment level decline to 5.7% lowest in 12 Months.

U.S Unemployment level decline to 5.7% lowest in 12 Months.

WASHINGTON (AP) — The number of Americans seeking unemployment benefits fell sharply last week, Employers added more than 1 million jobs from November through January, the strongest three-month pace in 17 years.

According to AP, Weekly applications for unemployment aid dropped 21,000 last week to a seasonally adjusted 283,000, the Labor Department said Thursday. The four-week average of applications, a less volatile number, fell 6,500 to 289,750, its lowest level in 15 weeks.

More than 3.2 million jobs have been created in the past year. That has helped lower the unemployment rate to 5.7 percent in January from 6.6 percent 12 months earlier. Average hourly pay rose 0.5 percent in January, the most in six years, the Labor Department said earlier this month. The number of available jobs posted by employers rose in December to a 14-year high, the government said last week. The number of people quitting also picked up 2.1 percent from the previous month. More quits are a sign of confidence in the economy because people typically quit when they have another job lined up, usually at higher pay, or are optimistic that they can find a new position.