WASHINGTON – The number of Americans seeking unemployment benefits last week fell to the lowest level since mid-April, another sign that workers are enjoying job security despite sluggish economic growth.
The Labor Department says weekly applications for jobless aid slid by 5,000 to a seasonally adjusted 249,000. The less volatile four-week average dropped 2,500 to 253,500, the lowest level since December 1973.
Any weekly number below 300,000 suggests the labor market is healthy. Claims have come in below that level for 83 straight weeks, the longest such streak since 1970, when the U.S. labor force was about half as big as it is now.
Claims are a proxy for layoffs. The low numbers show that employers are holding onto staff even though economic growth has been lackluster since late last year.
Send questions/comments to the editors.
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have a commenting profile? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.