Unemployment Applications Fall, Remain Above 400K
{{#rendered}} {{/rendered}}WASHINGTON -- Fewer Americans applied for unemployment benefits last week, though applications remain above levels consistent with a healthy economy.
The Labor Department says unemployment benefit applications fell 16,000 to a seasonally adjusted 414,000, the second drop in three weeks. That's a positive sign that layoffs are slowing.
Still, applications have been above 400,000 for 10 straight weeks, evidence that the job market is weak compared to earlier this year.
{{#rendered}} {{/rendered}}Applications had fallen in February to 375,000, a level that signals sustainable job growth. They stayed below 400,000 for seven of nine weeks. But applications surged in April to 478,000 -- an eight-month high -- and they have declined slowly since then.
The four-week average, a less volatile measure, was unchanged.