Job prospects improve in the US

THE number of Americans filing first-time applications for state unemployment benefits fell to 339,000 last week, the lowest in almost three years, suggesting job prospects are improving.

Initial jobless claims declined by 15,000 in the week that ended Saturday from 354,000 a week earlier, the Labour Department said in Washington. Last week’s filings were the fewest since the week ended January 20, 2001.

Businesses such as America West Airlines and Cypress Semiconductor Corp. are planning on hiring more employees in 2004 as demand improves. The US economy, the world’s largest, is forecast to grow 4.4% next year, the best performance since 1999, according to Bloomberg News survey results.