Applications for US unemployment benefits stayed low last week at 295K, signalling few layoffs

CP32811359
A job seeker fills out an application during a National Career Fairs job fair Wednesday, April 22, 2015, in Chicago. Weekly applications for jobless aid ticked up 1,000 to a seasonally adjusted 295,000, the Labor Department said Thursday, April 23, 2015. The four-week average, a less volatile measure, increased to 284,500. Still, that is just 2,000 higher than three weeks ago when the average was at a nearly 15-year low.(AP Photo/M. Spencer Green)

WASHINGTON – The number of Americans seeking unemployment benefits was little changed last week, evidence that employers are cutting few jobs.

The Labor Department says weekly applications for jobless aid ticked up 1,000 to a seasonally adjusted 295,000. The four-week average, a less volatile measure, increased to 284,500. Still, that is just 2,000 higher than three weeks ago when the average was at a nearly 15-year low.

Applications are a proxy for layoffs. The very low level of the average is a sign of solid job security.

Growth slowed in the first three months of the year and hiring weakened in March. Yet when applications are low, it suggests employers aren’t worried enough to cut jobs. That, in turn, could be a sign the growth slowdown will be temporary.

News from © The Associated Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

Want to share your thoughts, add context, or connect with others in your community?

Create a free account

The Associated Press

The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. More than half the world’s population sees AP journalism every day.

Related Articles