Brought to you by WBIW News and Network Indiana
Last updated on Friday, December 30, 2011
(UNDATED) - The number of people seeking unemployment benefits rose last week for the first time in a month.
But a measure of applications over the past month fell to a three-and-a-half-year low, an indication that hiring could pick up.
The Labor Department says weekly applications rose 15,000 to a seasonally adjusted 381,000. The four-week average, a less volatile measure, fell for the fourth straight week to 375,000 - the lowest level since June 2008.
Applications generally must fall below 375,000 - consistently - to signal that hiring is strong enough to reduce the unemployment rate.
Unemployment benefit applications are a measure of the pace of layoffs. Applications have plummeted in the past month, indicating that job cuts have fallen sharply. Still, many companies have been slow to boost hiring
1340 AM WBIW welcomes comments and suggestions by calling 812.277.1340 during normal business hours or by email at comments@wbiw.com
© Ad-Venture Media, Inc. All Rights Reserved.