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Applications For Unemployment Aid Fell Last Week To 395k

08/11/2011 10:47 am 0 comments

Source: AP / The Washington Post

The number of people seeking unemployment benefits fell last week below 400,000 for the first time in four months, a sign that the job market may be improving slowly after a recent slump.

Applications for unemployment aid dropped by 7,000 to a seasonally adjusted 395,000, the Labor Department said Thursday. Applications had been above 400,000 for the previous 17 weeks.

The four-week average, a less-volatile figure, fell to 405,000, its sixth straight decline and the lowest level since mid-April. That suggests layoffs have eased.

Applications fell in February to 375,000, a level that reflects healthy job growth. They soared to an eight-month high of 478,000 in late April, and have declined slowly since then.

To read this article in its entirety visit The Washington Post.

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