WASHINGTON (AP) - The number of Americans seeking unemployment benefits rose just 1,000 last week to a seasonally adjusted 308,000, hovering near six-year lows. Companies are still cutting very few jobs, however the decline in layoffs is not accompanied by a pickup in hiring.
The less volatile four-week average for applications fell to 305,000, the Labor Department said Thursday. That's the lowest since May 2007, seven months before the recession began.
Weekly applications could increase next week because of the partial government shutdown. Defense contractors and other companies that do business with the government may temporarily lay off workers. Federal workers who are temporarily laid off may also file for benefits, though their numbers are reported separately and published a week later than the other applications.