Posted: May 3, 2012 6:22 AM by Associated Press (MM)
WASHINGTON (AP) - The number of people seeking unemployment benefits fell last week by the most in more than three months. The figure was a hopeful sign one day before the government releases the April jobs report.
The Labor Department says weekly unemployment aid applications fell 27,000 last week to a seasonally adjusted 365,000.
Applications are a measure of the pace of layoffs. When they fall below 375,000, it generally suggests that hiring will be strong enough to lower the unemployment rate.
The four-week average, a less volatile measure, ticked up to 383,500, the highest level since December.
Applications jumped last month after steadily declining since the fall. At the same time, hiring slowed in March. Those figures had sparked concerns that the job market was worsening after strong gains during the winter.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
PLEASE HELP US MODERATE COMMENTS
Offensive or inappropriate comments are subject to removal. To report a comment, please e-mail us at firstname.lastname@example.org, and include the name of the story and information on the comment.
Thank you! KSBY.com
Get deals up to 80% off here!
Find the lowest gas prices in your area
Submit your photos to KSBY
Check out our calendar of events
Watch Daybreak Web Videos in full
Save with Hot Deals across our counties!
Events across the Central Coast
Follow The CW5 on Facebook.
The KSBY online public file.
What do you think? Leave us your feedback.
KSBY is your official CA Lottery station for San Luis Obispo and Santa Barbara Counties