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Fewer job cuts
Source: Agencies |
December 10, 2010, Friday
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Print Edition
Print Edition
APPLICATIONS for unemployment benefits in the United States dropped last week to the second-lowest level this year, fresh evidence that US companies are cutting fewer jobs.
First-time claims for jobless aid fell by 17,000 to a seasonally-adjusted 421,000 in the week ended last Saturday, the US Labor Department said yesterday.
The four-week average of claims, a less-volatile measure, fell for the fifth straight week to 427,500. That's the lowest since August 2008, just before the financial crisis intensified with the collapse of Lehman Brothers.
Claims have fallen steadily in the past two months. Applications dropped to 410,000 two weeks ago - the lowest level in more than two years - and they have been below 450,000 for the past five weeks. That is raising hopes companies will soon accelerate hiring.
First-time claims for jobless aid fell by 17,000 to a seasonally-adjusted 421,000 in the week ended last Saturday, the US Labor Department said yesterday.
The four-week average of claims, a less-volatile measure, fell for the fifth straight week to 427,500. That's the lowest since August 2008, just before the financial crisis intensified with the collapse of Lehman Brothers.
Claims have fallen steadily in the past two months. Applications dropped to 410,000 two weeks ago - the lowest level in more than two years - and they have been below 450,000 for the past five weeks. That is raising hopes companies will soon accelerate hiring.
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