Applications for jobless aid edge higher by 3,000
More Americans sought unemployment benefits last week, but the number of applications remained low, the latest sign that layoffs are scarce. The Labor
Department said Thursday that weekly applications for jobless aid rose 3,000 to a seasonally adjusted 254,000. The four-week average, a less volatile measure, ticked down to 256,000.
The economy is expanding, though at a sluggish pace, growing just 1.4 percent in the AprilJune quarter, according to a separate government report Thursday.
But businesses are hiring and holding tightly to their staffs. With the unemployment rate low at 4.9
percent, many employers say they can’t find qualified workers for
open positions. That makes them reluctant to cut jobs.