Claims for unemployment aid rise but remain at low level

Posted at 6:00 AM, Jun 30, 2016
and last updated 2016-06-30 09:00:22-04
WASHINGTON (AP) -- More Americans applied for unemployment benefits last week, but the level of jobless claims remains low enough to suggest that most workers enjoy job security.
The Labor Department says weekly applications rose by 10,000 to a seasonally adjusted 268,000. The 4-week average, which is less volatile, was unchanged at 267,000.
Unemployment claims are a proxy for layoffs. They have remained below 300,000 for 69 straight weeks, longest such streak since 1973.
Hiring has slowed down this spring. But even if they are not adding many workers, employers are still reluctant to reduce their staffs. The unemployment rate fell in May to 4.7 percent, lowest in more than eight years.