WASHINGTON (AP) — A measure of Americans who applied for unemployment benefits over the past month has fallen to its lowest level in almost six years, signaling fewer layoffs.
The Labor Department said Thursday that the average number of people who applied for benefits over the past four weeks dropped 6,250 to 335,500. That's the lowest level since November 2007, the month before the Great Recession began.
The four-week average smooths week to week fluctuations.
Weekly applications for unemployment aid increased by 5,000 last week to a seasonally adjusted 333,000. But that's up only slightly from the previous week's 5½-year low.
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