Manufacturing & The Economy
- Published on Monday, 19 August 2013 09:16
- Written by Kate Kunkel
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.