US Unemployment Aid Applications Jump to 385,000

WASHINGTON (AP) — The number of Americans seeking unemployment aid rose to a four-month high last week, although the increase partly reflects seasonal distortions around the spring holidays.

The Labor Department says weekly applications increased 28,000 to a seasonally adjusted 385,000. That is the highest level since late November. The four-week average, a less volatile measure, rose to 354,250.

A Labor Department spokesman says it can be difficult to seasonally adjust the figures during the Easter holiday because the timing of the holiday varies from year to year. Economists warned before the report that the data could be volatile.

Still, applications have increased for three straight weeks. Applications are a proxy for layoffs, so increases suggest that companies may be cutting jobs. The government will issue the March employment report Friday.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)


Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS DC

D.C. Lottery Live
Follow and Like Us

Listen Live