WASHINGTON — The number of people seeking unemployment aid neared a four-year low last week, an encouraging sign that strong hiring could continue in the coming months.
The Labor Department said Thursday that weekly applications for unemployment benefits fell 15,000 to a seasonally adjusted 358,000. That’s the second-lowest level since April 2008.
The four-week average, a less volatile measure, fell to 366,250, the lowest since late April 2008. When applications fall consistently below 375,000, it usually signals that hiring is strong enough to lower the unemployment rate.
Employers added a net gain of 243,000 jobs in January, far more than economists had projected. That was the biggest gain in nine months. The unemployment rate fell for the fifth straight month to 8.3 percent.
Read tomorrow's Arkansas Democrat-Gazette for full details.
Thank you for coming to the website of the Arkansas Democrat-Gazette. We're working to keep you informed with the latest breaking news.