The number of Americans applying for unemployment benefits fell by 6,000 last week to a seasonally adjusted 361,000, a level consistent with modest gains in hiring.
The Labor Department says the less volatile four-week average rose by 2,250 to 368,250 in the week that ended Aug. 4.
Weekly applications bounced around in July, skewed by the difficulty of accounting for temporary summertime layoffs in the auto industry. The seasonal distortions had faded by last week.
When applications consistently fall below 375,000, it typically suggests hiring is strong enough to lower the unemployment rate.
Hiring picked up in July after three sluggish months of job growth. The economy generated 163,000 jobs last month, the most since February. Still, the unemployment rate rose to 8.3 percent from 8.2 percent in June.
Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.
If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.powered by Disqus
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.