Applications for US jobless aid rise but remain at low level
{{#rendered}} {{/rendered}}
More people sought U.S. unemployment benefits last week, yet total applications remained at a historically low level that suggests workers are enjoying solid job security.
The Labor Department says weekly applications for unemployment benefits rose 10,000 to a seasonally adjusted 244,000. The four-week average, a less volatile measure, fell to 243,000.
Applications are a proxy for layoffs. They have been below the 300,000 benchmark for 111 weeks. That's the longest such streak since 1970.
{{#rendered}} {{/rendered}}
The data adds to evidence that the job market is healthy, even as the economy is growing at a sluggish pace. Employers added an average of 175,000 jobs a month from January through March. The unemployment rate has fallen to 4.5 percent, the lowest in nearly a decade.