US unemployment benefit applications dropped to 275,000

WASHINGTON (AP) – Fewer Americans applied for unemployment benefits last week, keeping this key indicator of labor market health near historic lows.

The Labor Department says that weekly applications for unemployment benefits dropped 6,000 to a seasonally adjusted 275,000. The four-week average, a less volatile measure, increased 500 to 275,750.

Benefit applications had risen 11,000 in the previous week to 281,000. But even that temporary uptick left benefit claims, a proxy for layoffs, below the 300,000 mark. Applications have been below that level for the past six months, a stretch last seen 42 years ago.

Last week, the government reported that the unemployment rate dropped to a seven-year low of 5.1 percent in August. That puts it at a level viewed by many economists as full employment.

We welcome thoughts and comments from our viewers. We ask that everyone keep their remarks civil and respectful. Postings that contain profanity, racist, or potentially libelous remarks will be deleted. We will delete any commercial postings, as well.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s