Jobless Aid Applications Rise to 302,000

Thursday, 31 Jul 2014 08:48 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

More people sought U.S. unemployment benefits last week, but jobless claims remain at pre-recession levels.

Weekly applications for unemployment aid rose 23,000 to a seasonally adjusted 302,000, the Labor Department said Thursday. The prior week's claims were revised down to 279,000, the lowest since May 2000.

The four-week average, a less volatile measure, fell 3,500 to 297,250. That's the lowest average since April 2006, more than a year before the Great Recession began at the end of 2007.

Applications are a proxy for layoffs. When employers keep their workers, it suggests potential income gains, active hiring and confidence that the economy is growing.

Employers added 288,000 jobs in June, the fifth straight month of job gains above 200,000. That's the first such stretch since 1999, during the height of the dot-com boom. The unemployment rate fell to 6.1 percent, the lowest since September 2008.

Economists forecast that the July employment report being released Friday will show that 225,000 jobs were added, according to a survey by the data firm FactSet. They forecast that the unemployment rate held at 6.1 percent in July.

Payroll provider ADP said Wednesday that private employers added 218,000 jobs in July, down from 281,000 in June.

Steady hiring gains have yet to lift wages by much. Wage growth has slightly outpaced inflation since the recession ended more than five years ago.

But more people with jobs increases the total number of paychecks, which could boost consumer spending and growth.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Comments on Mrs. Obama's Speech Off Limits, Reporters Told

Tuesday, 30 Sep 2014 19:07 PM

A creeped out Wisconsin journalist complains she was told by aides of Democratic Wisconsin gubernatorial candidate Mar . . .

Refugee Plan Set up for Central American Minors

Tuesday, 30 Sep 2014 17:13 PM

The Obama administration is initiating a program to give refugee status to some young people from Honduras, Guatemala an . . .

First Ebola Case Diagnosed in US Is 'Critically Ill'

Tuesday, 30 Sep 2014 16:58 PM

The first case of deadly Ebola diagnosed in the U.S. has been confirmed in Dallas, in a man who was traveling in Liberia . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved