08302016Tue
Last updateTue, 30 Aug 2016 3pm

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Manufacturing & The Economy

Unemployment Benefit Claims Lowest since 2007

The number of Americans seeking unemployment benefits dropped 15,000 last week to a seasonally adjusted 320,000, the fewest since October 2007 — a sign of dwindling layoffs and steady if modest job growth.

The Labor Department released figures last Thursday showing that the number of Americans seeking unemployment benefits dropped to a seasonally adjusted 320,000 last week, a reduction of 15,000. The fifth straight decline is part of a trend that has lowered applications for unemployment benefits 14% in 2013, but hiring is still sluggish, resulting in only modest net job growth.

Source: ChemInfo

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