WASHINGTON (AP) — The number of people seeking U.S. unemployment benefits fell last week to its lowest level in eight years.
The Labor Department says weekly applications for unemployment aid dropped 19,000 to a seasonally adjusted 284,000. That’s the lowest reading since February 2006, nearly two years before the Great Recession began.
The four-week average, a less volatile measure, declined 7,250 to 302,000. Claims for jobless aid have been falling for the past three months.
Applications are a proxy for layoffs. When businesses hold onto staff, increased hiring and stronger economic growth often follows.
Hiring is at its healthiest clip since the late 1990s.
The Times Record Sustaining Sponsor
We believe a community must be informed to thrive. bowdoin.edu
Comments are not available on this story. Read more about why we allow commenting on some stories and not on others.
We believe it's important to offer commenting on certain stories as a benefit to our readers. At its best, our comments sections can be a productive platform for readers to engage with our journalism, offer thoughts on coverage and issues, and drive conversation in a respectful, solutions-based way. It's a form of open discourse that can be useful to our community, public officials, journalists and others.
We do not enable comments on everything — exceptions include most crime stories, and coverage involving personal tragedy or sensitive issues that invite personal attacks instead of thoughtful discussion.
You can read more here about our commenting policy and terms of use. More information is also found on our FAQs.
Show less