clear
Tuesday May 31st, 2016 10:16AM

Applications for US jobless aid edge up to 304,000

By The Associated Press
WASHINGTON (AP) -- The number of people seeking U.S. unemployment benefits last week rose 2,000 to a seasonally adjusted 304,000. Jobless claims continue to be near pre-recession levels despite the slight increase.

The Labor Department said Thursday that the four-week average of applications, a less volatile measure, fell 4,750 to 312,000. That average has fallen from 357,500 applications over the past 12 months. It is the lowest four-week average since October 2007, just two months before the Great Recession started.

Applications are a proxy for layoffs. The current level of claims suggests that employers are holding on to their workers with the expectation of stronger economic growth ahead.

The modest level of claims occurs during the government's survey week for the April employment report. It indicates job gains of "200,000-plus" this month, said Sal Guatieri, senior economist at BMO Capital Markets.

Hiring has accelerated as applications for jobless aid have fallen.

Employers added 192,000 jobs in March, according to a separate government report. That follows gains of 197,000 in February, as the unemployment rate stayed at 6.7 percent for the second straight months.

Severe winter storms in January and December shut down factories, kept shoppers away from stores, and reduced home buying. That reduced hiring and overall economic growth. Employers added 129,000 jobs in January and only 84,000 in December.

More jobs and higher incomes will be needed to spur better overall economic growth. For now, economists expect the bad winter weather contributed to weak growth of 1.5 percent to 2 percent at an annual rate in the January-March quarter. But as the weather improves, most analysts expect growth to rebound to near 3 percent.
© Copyright 2016 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Judge denies motions to move, delay Tsarnaev trial
Lawyers for Boston Marathon bombing suspect Dzhokhar Tsarnaev asked a federal appeals court Wednesday to overturn a judge's decision to not move his upcoming trial out of state.
10:02PM ( 1 year ago )
High court to adopt electronic filing of cases
The Supreme Court is belatedly developing an electronic filing system similar to those used in courts around the country, Chief Justice John Roberts said Wednesday in his annual end-of-year report.
7:57PM ( 1 year ago )
Storm brings snow, cold to West for New Year's
A blustery winter storm dumped snow and ice across the West on Wednesday, making driving treacherous in the mountains from California to the Rockies and forcing residents and party-goers in some usually sun-soaked cities to bundle up for a frosty New Year's.
5:19PM ( 1 year ago )
U.S. News
State DOT awards $48M contract for NE Ga. road project
The state Department of Transportation has awarded a $47.8 million contract for nine miles of work on a northeast Georgia road.
9:37AM ( 1 year ago )
Business News
Grass fire impacts rush hour traffic on 985
Rush hour traffic on I-985 was slowed by a grass fire Wednesay afternoon with one lane closed while firefighters fought the blaze.
10:19PM ( 1 year ago )
Hall County conviction, sentencing to be reviewed by SCOGA
The State Supreme Court has agreed to hear the appeal of a Hall County man when they reconvene in January.
2:37PM ( 1 year ago )
Maysville man dies from Banks County wreck
The Georgia State Patrol reports that alcohol and/or drugs were factors a single-vehicle wreck that claimed the life of a Maysville man in Banks County Tuesday night.
11:07AM ( 1 year ago )
Local/State News
Motorcyclist arrested after high speed chase with Georgia State Patrol in Hall, Forsyth counties
A Kennesaw man faces drug and traffic charges after he allegedly led Georgia State troopers on a high speed chase through Hall and Forsyth counties Monday night.
7:20AM ( 2 hours ago )
DNR updates Memorial Day boating numbers, Georgia sees no fatalities
With only hours left in the Memorial Day Weekend, the Georgia Department of Natural Resources says no fatalities have been reported on the state's waterways during the busy holiday.
9:40PM ( 12 hours ago )
Georgia counties aim to lower numbers of locked-up juveniles
A national nonprofit that works to improve the lives of children believes the numbers of Georgia juveniles held behind bars can be reduced
9:06PM ( 13 hours ago )
Woman injured in Flowery Branch house fire
A woman suffered second and third degree burns during a house fire Monday evening in Flowery Branch.
7:40PM ( 14 hours ago )
Missing Gainesville woman ID'd as body found in Lake Lanier
The body found in Lake Lanier has been confirmed to be that of a missing Gainesville woman.
6:30PM ( 15 hours ago )