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Unemployment Applications Dip Last Week
Posted: 5:56 AM Apr 19, 2012
Reporter: associated press
WASHINGTON (AP) - The number of people seeking U.S. unemployment benefits dipped last week but remained higher than it's been in recent weeks. The slight rise in applications in the past few weeks could signal that the gains in the job market are uneven.
The Labor Department says weekly applications declined 2,000 to a seasonally adjusted 386,000. The previous week's data was revised up 8,000 to 388,000.
The four-week average, a less volatile measure, rose 5,500 to 374,750. That's the highest level in three months. But it still 9 percent lower than the level from September.
Applications have started to level off in recent weeks after months of steady declines. When applications fall below 375,000, it generally suggests hiring will be strong enough to lower the unemployment rate.
Hiring slowed in March after a fast start this year. Employers added only 120,000 jobs in March - half the pace of the previous three months.
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