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VOL. 41 | NO. 44 | Friday, November 03, 2017
Applications for US unemployment benefits edge up by 10,000
WASHINGTON (AP) — The number of Americans filing applications for unemployment benefits edged up slightly to a still-low 239,000 last week. Meanwhile, the four-week average fell to a fresh 44-year low, evidence that the job market remains healthy.
The Labor Department says that applications for jobless aid rose by a seasonally adjusted 10,000 last week after having fallen by 5,000 the previous week.
The four-week average, which smooths out week-to-week volatility, dropped to 231,250, a decline of 1,250 from the previous week. It was the lowest level for the four-week average since it stood at 227,750 on March 31, 1973.
Applications for unemployment benefits are a proxy for layoffs. The level of unemployment benefits has been below 300,000 for more than two years, a stretch not equaled in more than four decades.