U.S. unemployment claims dip to the lowest since mid-July - PBS

Paul Wiseman, Associated Press Paul Wiseman, Associated Press WASHINGTON (AP) — The number of people applying for U.S. unemployment benefits dipped last week to the lowest level since mid-July as layoffs remain low and most American workers enjoy job security. The Labor Department said Thursday that initial jobless claims ticked down to 197,000 from a revised 198,000 the week before. The four-week average of claims, which smooths out week-to-week volatility, dropped by 2,500 to 200,000. Claims for jobless benefits are a proxy for layoffs, and economists watch them because they can be a sign of where the job market is headed. So far this year, claims have mostly stayed below 220,000 — historically low.