For the fourth straight week, new jobless claims fell, providing the latest evidence that the US job market is improving at a steady, albeit slow, pace. According to the Labor Department, new benefits claims fell by 4,000 from the previous week to a seasonally-adjusted, 440,000 new claims. Averaged over the past four weeks, the weekly average fell by 9,000 new claims.
Despite this improvement, the number of people receiving benefits continues to climb and now sits at 4.6 million. This does not include however, the 5.4 million individuals who, as of the week ending April 24th, were still receiving extended benefits from the federal government.
Source: Associated Press
