Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
WASHINGTON (AP) — The number of Americans seeking unemployment benefits has fallen for the first time in a month.
The Labor Department says weekly applications dropped by 10,000 last week to a seasonally adjusted 307,000. Applications had spiked the previous week to a seven-month high.
Most of the volatility reflects widespread layoffs of temporary employees hired for the winter holidays.
The less volatile four-week average rose to 306,500, an increase of 6,500 from the previous week's average.
Applications have been near or below 300,000 since September, a historically low level that suggests companies are cutting few workers.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.