Applications for US unemployment benefits fall to 258,000
WASHINGTON — Fewer Americans sought unemployment aid last week, a sign that businesses are holding onto their workers and hiring is likely solid.
THE NUMBERS: Weekly applications for unemployment benefits fell 3,000 to 258,000, the Labor Department said Thursday, not far from the 43-year low reached last month. Applications have been below 300,000 for 86 straight weeks, the longest such streak since 1970.
About 2.04 million people are receiving unemployment aid, the government said, the fewest since June, 2000.
THE TAKEAWAY: Applications are a proxy for layoffs, so the low level suggests companies are cutting few jobs. That typically means they are willing to add workers as well.