US Unemployment Aid Applications Decline To 366K

By: AP
By: AP

Fewer Americans sought unemployment benefits last week, indicating companies continue to hire at a modest but steady pace.

The Labor Department says weekly applications for unemployment benefits fell 5,000 to a seasonally adjusted 366,000. The four-week average, a less volatile measure, dropped to 350,500, the lowest in nearly five years. The average is low because of seasonal factors, which reduced applications sharply last month.

Weekly applications are a proxy for layoffs. When layoffs decline, net hiring typically rises.

The four-week average of applications has dropped nearly 6 percent in the past three months. At the same time, hiring has picked up: Employers added an average of 200,000 jobs a month from November through January.


You must be logged in to post comments.

Username:
Password (case sensitive):
Remember Me:
KKTV 520 E. Colorado Colorado Springs, CO 80903 Office: (719) 634-2844 Fax: (719) 632-0808 News Fax: (719) 634-3741
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 190194191 - kktv.com/a?a=190194191
Gray Television, Inc.