Applications for US jobless benefits fall modestly last week as layoffs remain relatively low

The four-week average of claims, which evens out some of the week-to-week volatility, fell by 1,750 to 230,000.

Weekly filings for unemployment benefits, which are considered a proxy for layoffs, remain low by historic standards.

The total number of Americans collecting jobless benefits declined by 22,000 to 1.84 million for the week of Aug. 24.