KWTX - Central Texas Votes - Federal Headlines

Jobless Benefit Applications Dip

WASHINGTON (June 26, 2014) The number of people seeking unemployment benefits dropped last week, the latest evidence that a sharp economic slowdown earlier this year hasn't caused employers to cut jobs, the U.S. Labor Department said Thursday.

Weekly unemployment benefit applications fell 2,000 to a seasonally adjusted 312,000, the Labor Department said.

The four-week average, a less volatile measure, rose 2,000 to 314,000.

The average has fallen 9 percent since the beginning of this year.

Applications are a proxy for layoffs, so the declines indicate that companies are cutting fewer jobs.

The figures were released a day after the government said the economy shrank at a 2.9 percent annual rate in the first three months of the year, the worst reading since early 2009, when the U.S. was mired in the depths of the recession.


Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 264767271 - kwtx.com/a?a=264767271