Fewer people applying for unemployment benefits - KWWL - Eastern Iowa Breaking News, Weather, Closings

Fewer people applying for unemployment benefits

Posted:
WASHINGTON, D.C. (KWWL) -

The number of people applying for unemployment benefits fell sharply for the second straight week, suggesting the job market is slowly recovering.

The US Labor Department says applications for benefits dropped 29,000 last week to a seasonally adjusted 409,000.  The four-week average, a less volatile measure, rose slightly to 439,000, the sixth straight increase.

The declines come after applications spiked last month, largely the result of temporary factors. The department reported two weeks ago that applications had surged to an eight-month high of 474,000.

Weekly unemployment benefits during the height of the recession reached 659,000 per week.

Powered by Frankly