Employment claims fall to 5 1/2 year low

Employment claims fall to 5 1/2 year low

The number of Americans applying for unemployment benefits fell last week to the lowest amount since January 2008.

The Labor Department said Thursday that the less volatile four-week average slid 4,500 to 345,750. The July figures are typically volatile as the government has a difficult time adjusting for seasonal layoffs in the auto industry.

Still, the trend in weekly unemployment claims has been positive and offered hope that a better job market could help lift a sluggish economy later this year.

Read more at The Statesman Journal.