Applications for US Jobless Aid Rise to Still-Low 245,000

Labor News

AP

Reprinted from The New York Times by The Associated Press on December 21, 2017.

The number of people seeking US unemployment aid rose last week for the first time in five weeks, but remained at a low level that points to a healthy job market.

Applications for unemployment aid increased 20,000 to a seasonally adjusted 245,000, the Labor Department said Thursday. The rise comes a week after applications fell to nearly a four-decade low. The four-week average, a less volatile measure, climbed 1,250 to 234,750.

Applications are a proxy for layoffs, and any reading below 300,000 is low by historical standards. Many employers say it is difficult to find people to fill their open jobs, and so are holding tightly onto their existing staffs.

Steady economic growth is encouraging more hiring. The unemployment rate is at a 17-year low of 4.1 percent. …

NY Times 12/21

About Jeffrey Burman 2658 Articles
Jeff Burman represents assistant editors on the Guild’s Board of Directors. He can be reached at jeffrey.s.burman.57@gmail.com.

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