Unemployment claims fall by 17,000 for week

The number of Americans filing new claims for unemployment benefits last week fell to the lowest level in six months, another indication that the battered U.S. economy may be recovering from an extended period of weakness.

The Labor Department reported Thursday that 386,000 newly laid-off workers filed claims for jobless benefits last week, down by 17,000 from the previous week.

It was the smallest number of laid off workers filing for claims since the week ending Feb. 8 when the total was 378,000.

Topeka

Westar keeps dividend

Westar Energy Inc. again will pay its stockholders a dividend of 19 cents per share for the third quarter of this year, the company’s board of directors announced Thursday.

The dividend is in line with the annual dividend of 76 cents per share the company announced as part of its plan to reduce its debt. Last year, the annual dividend was $1.20, or 30 cents each quarter, about 57 percent higher.

The company has estimated cutting the dividend will generate $55 million in cash for reducing debt through 2004. Some critics had suggested the company eliminate the dividend altogether, but James Haines, chief executive officer, said retaining it would make it easier to raise cash from investors in the future.

Real Estate

Mortgage rates climb

Rates on 30-year mortgages rose again this week, the seventh increase in the past eight weeks, but they still remain slightly below the average rates one year ago.

The average rate on 30-year mortgages climbed to 6.28 percent, slightly below this year’s high of 6.34 percent, set two weeks ago.

Wall Street

Gap posts earnings

Gap Inc.’s second-quarter earnings Thursday more than tripled and sales jumped 13 percent during last year, the latest sign the clothing retailer’s once-troubled finances have turned the corner.

For the three months ended Aug. 2, Gap earned $209 million, or 22 cents per share, compared with profits of $57 million, or 6 cents per share, in the same period last year. Gap operates a store in Lawrence.