Thursday, April 5, 2012
WASHINGTON (AP) -- The number of people seeking U.S. unemployment benefits fell to a four-year low last week, as layoffs slow and the job market strengthens.
The Labor Department says weekly unemployment benefit applications dropped 6,000 to a seasonally adjusted 357,000. That's the fewest since April 2008.
The four-week average, a less volatile measure, fell to 361,750, also the lowest in four years. The average has fallen nearly 13 percent in the past six months.
When unemployment benefit applications drop consistently below 375,000, it usually signals that hiring is strong enough to lower the unemployment rate.
The decline coincides with the best three months of job growth in two years. On Friday, the government issues its March jobs report, which is expected to show the fourth straight month of strong hiring.
(Copyright 2012. Associated Press)
Have information or an opinion about this story? Click here to contact the newsroom.
Copyright WRDW-TV News 12. All rights reserved. This material may not be republished without express written permission.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.