WASHINGTON (AP) -- More Americans filed for unemployment benefits last week, but claims for jobless aid remain near pre-recession levels.<br />
The Labor Department said Thursday that weekly applications for unemployment benefits rose 4,000 to a seasonally adjusted 317,000. The four-week average, a less volatile measure, increased to 315,250. These figures are near the jobless claims levels before the outbreak of the Great Recession in December 2007.<br />
Applications are a proxy for layoffs, so the claims data show that employers are dismissing fewer workers. When businesses are confident enough to hold onto staff, they may also step up hiring. That is a positive sign for economic growth, as more jobs usually help lift consumer spending.<br />
Last Friday, the Labor Department said employers added 217,000 jobs in May as the unemployment rate held steady at 6.3 percent.<br />
The steady hiring after the economy shrank during the first three months of the year because of the winter weather point to faster growth ahead.<br />
Monthly job gains have averaged 234,000 for the past three months, up sharply from 150,000 in the previous three. The May unemployment rate, which is derived from a separate survey, was the lowest rate in more than five years.<br />
Gross domestic product fell 1 percent in the first three months of 2013. Many economists expect that number could be further revised downward, while growth returns as warmer weather has generated more hiring and consumer spending.
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.
ANCHORAGE, Alaska (AP) — Polar bears are at risk of dying off if humans don't reverse the trend of global warming, a blunt U.S. government report filed Thursday said."The single most important step fo...
MARYVILLE, Tenn. (AP) — 6 p.m.An official in eastern Tennessee says smoke has stopped rising from the site where a CSX train car derailed and caught fire, forcing the evacuation of thousands of reside...
LA CROSSE, Wis. (AP) — Wading into presidential politics, President Barack Obama on Thursday promoted his brand of middle-class economics by drawing sharp contrasts with "mean" Republicans in a state...
WASHINGTON (AP) — Jim Webb, a decorated Vietnam veteran and accomplished novelist who became a fierce critic of the Iraq war in the Senate, announced Thursday that he's challenging Hillary Rodham Clin...
WASHINGTON (AP) — Senate Majority Leader Mitch McConnell said Thursday that his chamber is unlikely to approve an American ambassador to Cuba, dishing out a quick rebuff to President Barack Obama and...