The number of Americans initially applying for unemployment aid continued to decline last week after hitting the lowest level since May 2008 a week earlier, the Labor Department reported Thursday.
The department said that the advance figure for seasonally adjusted initial claims for jobless benefits was 364,000 in the week ending Dec. 17, a decrease of 4,000 from the previous week's revised figure. This is the lowest level since April 2008.
Fewer than 375,000 people applying for aid consistently signals that hiring is strong enough to lower the unemployment rate.
Meanwhile, the four-week moving average, which is a more closely watched claims figure, continued to dip to 380,250, the lowest level since June 2008.
The advance figure for seasonally adjusted insured unemployment during the week ending Dec. 10 was 3.546 million, a decrease of 79,000 from one week earlier.
While there is more evidence for an improving labor market, few believe it will return to a normal level in the short term due to relatively weak economic growth.
U.S. economic growth rate was downwardly revised to 1.8 percent in the third quarter of this year due to a decline in consumer spending, the Commerce Department reported Thursday.
The weekly figures of jobless benefits application reflect the level of layoffs and indicate real-time condition of the American job market.
VietNamNet/Xinhuanet