Advertisement

Applications for jobless aid fall to lowest in 50 years

Applications for jobless aid fall to lowest in 50 years Photo: AP/J. Scott Applewhite

April 11, 2019 10:44 AM

The number of people applying for unemployment aid fell last week to its lowest level in nearly five decades, solid evidence that the job market is healthy and layoffs scarce.

The Labor Department says weekly applications for jobless benefits dropped 8,000 to a seasonally adjusted 196,000. That is the lowest since October 1969. The four-week average, a less volatile measure, fell to 207,000, the lowest since December 1969.

Advertisement

Applications are a proxy for layoffs, so the ongoing decline — applications have tumbled for four straight weeks — signals that businesses are confident enough about future demand to hold onto their workers. That confidence is also spurring more hiring: Job gains rebounded last month after a sharp slowdown in February, suggesting the economy remains resilient in its 10th year of expansion.

Connect with KSTP


Join the conversation on our social media platforms. Share your comments on our Facebook, Instagram, and Twitter pages.

Credits

Associated Press

(Copyright 2019 by The Associated Press. All Rights Reserved.)

Advertisement

Day 2 of the Minnesota State Fair: 'Governor's Fire Prevention Day'

Man dead, homicide investigation underway in North Minneapolis

Drivers will encounter lane, ramp closures in the east and west metro this weekend

New attractions, experiences at the Minnesota State Fair

Billionaire conservative donor David Koch dies at age 79

Global worry over Amazon fires escalates; Bolsonaro defiant

Advertisement