WASHINGTON (AP) — The number of Americans seeking unemployment benefits rose 10,000 last week to a seasonally adjusted 354,000. Still, the level of applications is consistent with steady hiring and remains near a five-year low.
The Labor Department said Thursday that applications increased from a revised 344,000 the previous week, slightly higher than the 340,000 initially reported.
The gains pushed the less volatile four-week average up 6,750 to 347,250, the third straight increase.
Weekly applications are a proxy for layoffs. They have fallen nearly 7 percent since November and touched a five-year low of 338,000 earlier this month.
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