WASHINGTON (AP) — The number of Americans seeking unemployment benefits dropped 10,000 last week to a seasonally adjusted 316,000, a sign that workers are in less danger of being laid off.
The less volatile four-week average fell 7,500 to 331,750, the Labor Department said Wednesday. Both the first-time weekly jobless claims and the average have returned to pre-recession levels.
Unemployment benefit applications are a proxy for layoffs. They have fallen in six of the past seven weeks.
A government spokesman said there were no special factors that drove claims lower but cautioned that it can be difficult to seasonally adjust in late November because the Thanksgiving holiday occurs at different times each year. This year Thanksgiving is a week later than last year.
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.
