Weekly US jobless aid applications little changed
The number of people seeking unemployment aid changed little last week, signaling modest job growth.
The Labor Department says weekly unemployment benefit applications dipped by 2,000 to a seasonally adjusted 370,000.
Applications have leveled off in May after spiking in April to as high as 392,000 - a five month high. The four-week average, a less volatile measure, was also 370,000 last week.
The lower level suggests hiring could pick up a bit in May from April's sluggish pace. When applications drop below 375,000 a week, it typically suggests hiring is strong enough to lower the unemployment rate.
Economists forecast employers will add 160,000 jobs this month. That's above April's gains but below the pace set this winter.
AP
Related Articles
- US unemployment aid applications rise to 365,000
- Jobless claims surge; seasonal issues a factor
- US jobless claims plunge to lowest in 4 years
- US jobless aid applications fall to 6-week low
More News
- German central bank: Economy to improve 'markedly'
- Syria, Israel Exchange Fire On Golan Heights
- White House counsel kept IRS probe results from Obama
- Suicide at Notre Dame Cathedral in Paris
- Fire chief: search almost complete in Oklahoma after tornado
- Apple's Cook faces Senate questions on taxes
- 24 dead in Oklahoma twister
- Assad: Syria transition talks are internal matter
- Suspected US drone in Yemen kills 4 militants
- Rome Protest Turns Up Heat On New PM Letta
