WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose last week after reaching the lowest level in 5 ½ years. But the broader trend suggests companies are laying off fewer workers and could step up hiring in the months ahead.

The Labor Department said Thursday that applications for first-time benefits rose 13,000 to a seasonally adjusted 336,000 in the week ending Aug. 17. That's up from 323,000 in the previous week, which was the lowest since Jan. 2008.

The four-week average, which smooths week to week fluctuations, fell by 2,250 to 330,500. That's the sixth straight decline and the lowest for the average since November 2007.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 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.

Employer-Paid
Employee Participation