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Weekly US unemployment benefit applications rise

Weekly US unemployment benefit applications rise

The number of Americans seeking unemployment benefits rose last week for the first time in a month. But a measure of applications over the past month fell to a three-and-a-half-year low, an indication that hiring could pick up.
The Labor Department says weekly applications rose 15,000 to a seasonally adjusted 381,000. The four-week average, a less volatile measure, fell for the fourth straight week to 375,000 _ the lowest level since June 2008.
Applications generally must fall below 375,000 _ consistently _ to signal that hiring is strong enough to reduce the unemployment rate.
Unemployment benefit applications are a measure of the pace of layoffs. Applications have plummeted in the past month, indicating that job cuts have fallen sharply. Still, many companies have been slow to boost hiring.


Updated : 2020-11-30 14:21 GMT+08:00