Thursday, February 23, 2012
The four-week average of people seeking unemployment aid fell to its lowest point since March 2008.
Applications stayed last week at a seasonally adjusted 351,000, the Labor Department said Thursday. That's the fewest since March 2008, when the country was just a few months into the recession.
The four-week average, which smooths week-to-week fluctuations, dropped for the sixth straight week to 359,000. That's also the lowest since March 2008.
Applications have fallen steadily since last October. The average has declined 13.5 percent since then. When applications drop consistently below 375,000, it usually signals that hiring is strong enough to lower the unemployment rate.
Read more at OregonLive.com.