Applications for US jobless aid fall to 7-week low
Source: AP-Excite
By JOSH BOAK
WASHINGTON (AP) — The number of Americans applying for unemployment benefits has reached its lowest level in seven weeks, a sign that the U.S. economy and job market are steadily improving.
The Labor Department said Wednesday that applications for unemployment benefits dropped 9,000 last week to a seasonally adjusted 280,000.
The four-week average, a less volatile measure, declined 8,500 to 290,250. That average has plunged 16 percent in the past 12 months.
"What we have seen in the data over the past few months looks favorable for the labor market," said Daniel Silver, an economist at JPMorgan Chase.
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In this Oct. 23, 2014 photo, assistant Professor Dan Reed teaches automotive service technology students at the Community College of Philadelphia, in Philadelphia. The Labor Department reports on the number of people who applied for unemployment benefits last week on Wednesday, Dec. 24, 2014. (AP Photo/Matt Rourke)
Read more: http://apnews.excite.com/article/20141224/us--unemployment_benefits-045a29372a.html
