Applications for US unemployment aid fall from 3-month high
WASHINGTON — Fewer Americans sought unemployment aid last week, the latest sign that companies are holding onto their workers.
THE NUMBERS: The Labor Department said Thursday that weekly applications for jobless benefits fell 11,000 to a seasonally adjusted 254,000. That’s down from a three-month high in the previous week. The four-week average, a less volatile measure, ticked up 1,750 to 259,750.
Just over 2 million people are receiving unemployment aid, up 18,000 from the previous week.
THE TAKEAWAY: Applications, which are a proxy for layoffs, have remained below 300,000 for 88 straight weeks, the longest streak since 1970.