Claims for US jobless benefits fall by 10,000 to 245,000

By PAUL WISEMAN
AP Economics Writer

WASHINGTON (AP) – Fewer Americans applied for unemployment benefits last week as most U.S. workers continue to enjoy job security.

The Labor Department says claims for jobless aid fell by 10,000 to a seasonally adjusted 245,000 last week. The less-volatile, four-week average rose by 2,250 to 242,000.

Unemployment claims are a proxy for layoffs. They have come in below 300,000, a historically low number, for 118 straight weeks. That is the longest such streak since 1970.

The low levels reflect a healthy job market. The U.S. unemployment rate fell last month to a 16-year low 4.3 percent.

Overall, nearly 1.92 million people were collecting unemployment checks, down nearly 10 percent from a year ago. The four-week average number of Americans receiving jobless aid was 1.91 million, lowest since January 1974.

(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Categories: Associated Press, News, US, World

Leave a Reply

Your email address will not be published. Required fields are marked *