Applications for US unemployment benefits edge up by 10,000

November 09, 2017 - 8:32 am

WASHINGTON (AP) — The number of Americans filing applications for unemployment benefits edged up slightly to a still-low 239,000 last week. Meanwhile, the four-week average fell to a fresh 44-year low, evidence that the job market remains healthy.

The Labor Department says that applications for jobless aid rose by a seasonally adjusted 10,000 last week after having fallen by 5,000 the previous week.

The four-week average, which smooths out week-to-week volatility, dropped to 231,250, a decline of 1,250 from the previous week. It was the lowest level for the four-week average since it stood at 227,750 on March 31, 1973.

Applications for unemployment benefits are a proxy for layoffs. The level of unemployment benefits has been below 300,000 for more than two years, a stretch not equaled in more than four decades.

AP Editorial Categories: 
Comments ()