US jobless aid applications unchanged
Source: Agencies |
May 18, 2012, Friday
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Print Edition
Print Edition
THE number of people seeking US unemployment benefits was flat last week, suggesting steady gains in the job market.
The Labor Department said yesterday that weekly jobless aid applications stayed at a seasonally adjusted 370,000, the same level as the previous week. The four-week average, a less volatile measure, fell for the second straight week, to 375,000.
Applications for benefits surged in April to a five-month high of 392,000. They have fallen since then and are near the lowest levels in four years.
The fall suggests hiring could pick up in May after slumping in the previous two months. When applications drop below 375,000 a week, it generally suggests hiring is strong enough to lower the jobless rate.
The rate has fallen from 9.1 percent in August to 8.1 percent last month. And employers have added a million jobs over the past five months.
The Labor Department said yesterday that weekly jobless aid applications stayed at a seasonally adjusted 370,000, the same level as the previous week. The four-week average, a less volatile measure, fell for the second straight week, to 375,000.
Applications for benefits surged in April to a five-month high of 392,000. They have fallen since then and are near the lowest levels in four years.
The fall suggests hiring could pick up in May after slumping in the previous two months. When applications drop below 375,000 a week, it generally suggests hiring is strong enough to lower the jobless rate.
The rate has fallen from 9.1 percent in August to 8.1 percent last month. And employers have added a million jobs over the past five months.
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