Posted: Aug 16, 2012 8:38 AM by Associated Press
WASHINGTON (AP) - The number of Americans applying for unemployment benefits edged up slightly last week but remained at a level consistent with modest gains in hiring.
The Labor Department says unemployment benefit applications rose by 2,000 to 366,000. The less volatile four-week average fell by 5,500 to 363,750. That was the lowest level since late March.
Applications have trended lower in the past two months, a sign that companies are laying off fewer workers and hiring is picking up. When applications fall consistently below 375,000, it generally suggests hiring is strong enough to lower the unemployment rate.
The economy and hiring improved in July after falling into a midyear slump. Employers added 163,000 jobs last month, the best job growth since February.
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
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