The number of Americans applying for unemployment benefits fell by 23,000 last week, further evidence that the job market is slowly returning to health.
The Labor Department says applications declined to a seasonally adjusted 340,000, down from 363,000 the previous week.
The less volatile four-week average ticked down 500 to 339,500. That's close to the five-year low of 338,000 registered the first week of May. The four-week average is 9 percent lower than in November.
Unemployment claims are a proxy for layoff. The decline in claims has coincided with steady job growth. Since November, employers have added an average 208,000 jobs a month, up from 138,000 the previous six months.
Still, much of the improvement has come from fewer layoffs, not hiring.
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.