Sections

Weather Forecast

Close
Advertisement

US unemployment aid applications decline to 366K

Email Sign up for Breaking News Alerts
News Willmar,Minnesota 56201 http://www.wctrib.com/sites/all/themes/wctrib_theme/images/social_default_image.png
West Central Tribune
(320) 235-6769 customer support
US unemployment aid applications decline to 366K
Willmar Minnesota 2208 Trott Ave. SW / P.O. Box 839 56201

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

Advertisement
Advertisement

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.

Advertisement
Associated Press
Advertisement
Advertisement
randomness