Fewer sign up for jobless benefits
WASHINGTON — Fewer Americans sought unemployment benefits last week, a sign that job cuts remain low as employers are confident enough in the business outlook to hold onto their staffs.
The Labor Department says applications for unemployment aid dropped 8,000 to a seasonally adjusted 276,000. The four-week average, a less volatile figure, ticked up 2,750 to 274,750.
Applications have been below 300,000, a historically low level, for 13 weeks.
Applications are a proxy for layoffs. The small number of people seeking benefits indicates that Americans are enjoying solid job security.
Economists anticipate that the May jobs report, to be released Friday, will show that employers added a solid 227,000 jobs last month.
