WASHINGTON — The number of Americans applying for unemployment claims dipped last week to 194,000 — the lowest since mid-July — as layoffs remain low and most Americans enjoy job security. The Labor Department reported Thursday that initial jobless claims were down last week from a revised 195,000 the week before. The four-week average of claims, which strips out week-to-week volatility, fell to 196,750. Applications for jobless benefits are a proxy for layoffs, and economists watch them closely because they can provide signs of where the job market is headed. So far this year, claims have remained at historically low levels, never topping 230,000 in a single week. They've come in at or below 200,000 for seven straight weeks.
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