Matt Rourke, Associated Press
WASHINGTON — The number of Americans seeking unemployment benefits declined last week, the latest evidence that a sharp economic slowdown earlier this year hasn't caused employers to cut jobs.
The Labor Department says weekly unemployment benefit applications fell 2,000 to a seasonally adjusted 312,000. The four-week average, a less volatile measure, rose 2,000 to 314,000.
The average has fallen 9 percent since the beginning of this year. Applications are a proxy for layoffs, so the declines indicate that companies are cutting fewer jobs.
The figures come a day after the government said the economy shrank at a 2.9 percent annual rate in the first three months of the year, the worst reading since early 2009, when the U.S. was mired in the depths of the recession.
- 25 cities that are winning at education
- 5 reasons your most talented employees will...
- Consumers fuel steady US economy as rest of...
- 4 warning signs your teen is destined for bad...
- Germany to Greece: Don't mess with us over...
- Child grooms of Nepal are married off as...
- Markets brace for Big Oil profit plunge
- Balancing act: Organizations slowly move...
- Most K-12 students are now low income 10
- After setting iPhone record, what does... 5
- US consumer confidence jumps to 7... 3
- Obama to seek to bust spending limits... 3
- 5 reasons your most talented employees... 3
- Consumers fuel steady US economy as... 2
- Want a one-of-a-kind name for your... 2
- Tess Frame: Five reasons you’re... 1