Applications for US jobless aid fall to nearly 15-year low
WASHINGTON (AP) -- The number of people seeking unemployment benefits fell last week, evidence that layoffs remain at unusually low levels and the job market is moving closer to full health.
The Labor Department says weekly applications for jobless aid dropped 12,000 to a seasonally adjusted 267,000, near 15-year lows reached two months ago. The four-week average, a less volatile measure, declined 2,000 to 276,750.
The figures suggest that Americans are enjoying solid job security. Applications, a proxy for layoffs, have remained below 300,000, a historically low level, for 15 weeks. Employers are confident enough in future consumer demand to retain their staffs. They've also hired at healthy levels in recent months.
The number of people receiving benefits fell 50,000 to 2.22 million. That figure has fallen 14 percent in the past year.