The number of Americans filing first-
time applications for state unemployment benefits rose last week,
holding close to the lowest in almost three years and suggesting
an accelerating economy is helping the labor market strengthen.
States received 366,000 applications for jobless insurance
benefits in the week that ended Saturday, compared with 353,000
the prior week that was the lowest since January 2001, the Labor
Department reported in Washington. The four-week average, a less-
volatile measure, fell to 375,250, the lowest since March 2001.
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Businesses added 286,000 employees to payrolls in the last
three months as the economy expanded in the third quarter at the
fastest pace in 19 years. Job gains may continue as improving
demand boosts corporate profits and gives companies the confidence
to invest and hire.
Bloomberg News
