Applications For US Unemployment Aid Fall To 287K

WASHINGTON (AP) — Slightly fewer Americans sought unemployment benefits last week, pushing the average number of applications in the past month to an eight-year low.

The Labor Department says weekly applications fell 1,000 to a seasonally adjusted 287,000 in the week ended Oct. 4. That is the fourth straight week that applications have been below 300,000, a clear sign of a job market on the mend.

The four-week average of applications, a less volatile measure, dropped 7,250 to 287,750, the lowest level since February 2006, nearly two years before the Great Recession began.

Applications are a proxy for layoffs. They have fallen 9 percent in the past month. That suggests employers are keeping their workers, likely because they expect continued economic growth and may be contemplating more hires.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.