WASHINGTON — The number of people applying for U.S. unemployment benefits slipped 2,000 last week to a seasonally adjusted 339,000, the fifth straight decline that shows businesses see little need to cut jobs.
The Labor Department said the less volatile four-week average fell 5,750 to 344,000. The average has dropped 11 percent in the past year.
Applications, which are a proxy for layoffs, are back near prerecession levels after spiking in early October because of the partial government shutdown and the processing backlogs in California. The steady declines are the latest sign that companies are firing very few workers.
Read tomorrow's Arkansas Democrat-Gazette for full details.