WASHINGTON (AP) — The number of Americans seeking unemployment aid rose last week by 28,000, the third straight increase.
Weekly applications increased to a seasonally adjusted 385,000, the Labor Department said Thursday. That's the highest level since late November. The gain pushed the four-week average, a less volatile measure, to 354,250.
A Labor Department spokesman says the figures may have been affected by the Easter holiday. The department says the holiday's timing varies from year to year, which makes it difficult to adjust for school closings and other seasonal factors that can alter the data.
Applications are a proxy for layoffs. They have declined steadily since November, pushing the average to a five-year low three weeks ago.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
