Job­less claims rise slightly

Los Angeles Times - - COMPANY TOWN -

The num­ber of peo­ple seek­ing U. S. un­em­ploy­ment aid rose slightly last week but re­mained at a his­tor­i­cally low level that sig­nals an im­prov­ing job mar­ket.

The La­bor Depart­ment says ap­pli­ca­tions rose 3,000 last week to a sea­son­ally ad­justed 271,000. That’s not far from the 15- year low of 262,000 reached in April. The four- week av­er­age, a less volatile mea­sure, de­clined to 273,750.

Ap­pli­ca­tions are a proxy for lay­offs, so the very low lev­els sug­gest that busi­nesses are con­fi­dent enough in the econ­omy to hold onto their work­ers.

The data also show that em­ploy­ers re­frained from lay­offs even as the econ­omy con­tracted in the f irst three months of the year, a sign they saw the slow­down as tem­po­rary.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.