Weekly US jobless aid applications drop to 343K
AP Graphics Bank
Posted: 12/13/2012
WASHINGTON, D.C. - The number of Americans seeking unemployment benefits fell sharply for a fourth straight week, a sign that the job market may be improving.
The Labor Department says weekly applications for unemployment benefits fell 29,000 last week to a seasonally adjusted 343,000, the lowest in two months. It is the second-lowest total this year.
Applications are a proxy for layoffs, so the drop indicates that companies are cutting fewer jobs. But employers also need to step up hiring to rapidly push down the unemployment rate.
Applications spiked five weeks ago because of Superstorm Sandy. The storm's impact has now faded. The four-week average, a less volatile measure, fell 27,000 to 381,500.
Before the storm, applications had fluctuated between 360,000 and 390,000 this year.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
PRINT
Top Stories
-
Brutal attack in London could be terror
A brutal attack in broad daylight near a military barracks in London left one man dead and two suspects hospitalized Wednesday after a shootout with police. British Prime Minister David Cameron said the attack appeared to be terror related.
-
Man fatally shot in Boston bombing probe
-
Trouble for Arias jury on life/death
-
Consumer Reports: Best & worst airlines
-
Hoarding investigation turns tragic
-
Final report issued for Seffner sinkhole
