News Summary: Applications For US Jobless Aid Fall

The Associated Press

APPLICATIONS FALL: Weekly applications for U.S. unemployment aid fell 23,000 last week to a seasonally adjusted 369,000, the Labor Department said Thursday. The drop came after the figures were distorted for two weeks by technical problems.

MODEST HIRING: The four-week average, a less volatile measure, rose to 368,000. That level is consistent with modest hiring.

LITTLE CHANGE: Applications have fluctuated between 360,000 and 390,000 since January. At the same time, employers have added an average of nearly 150,000 jobs a month. That's barely been enough to lower the unemployment rate, which has declined from 8.3 percent to 7.8 percent this year.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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