US unemployment aid applications rise 7K to 343K - Dallas News | myFOXdfw.com

US unemployment aid applications rise 7K to 343K

Posted: Updated:

By PAUL WISEMAN
AP Economics Writer

WASHINGTON (AP) -- The number of Americans applying for unemployment benefits rose by 7,000 last week to a seasonally adjusted 343,000.
 
The increase follows a drop of 22,000 the previous week. But the broader trend is consistent with an improving job market.
 
The four-week average, which smooths out weekly fluctuations, fell 1,250 to 345,250, according to the Labor Department.
 
Weekly applications data can be volatile in July. Automakers typically shut their factories the first two weeks of the month to prepare for new models, leading to temporary layoffs. But this year much of the industry has skipped or shortened the shutdowns to meet stronger demand.
 
Applications are a proxy for layoffs. They're down nearly 8 percent this year. Employers have added an average 202,000 new jobs a month this year, up from an average 183,000 in 2012.
 
In June, employers added 195,000 jobs. The unemployment rate stayed at 7.6 percent last month but is down from 8.2 percent a year earlier.
 
Job growth has been solid despite lackluster economic growth. Economists expect the economy grew at an annual rate of less than 1 percent in the April-June quarter, even worse than an unimpressive 1.8 percent the first three months of the year. Federal spending cuts that took effect in March have hobbled economic growth.
 
Still, some parts of the economy have proven resilient.
 
The U.S. housing recovery is strengthening, for example. Sales of newly built homes rose 8.3 percent last month to a seasonally adjusted annual rate of 497,000, the Commerce Department said Wednesday. That's the highest since May 2008 and up from an annual rate of 459,000 in May.
 
Sales are still below the 700,000 pace consistent with healthy markets. But they are up 38 percent in the past 12 months. That's the biggest annual gain since January 1992.
 
New-home sales make up only a small part of the market. But they have an outsize economic impact. Each home built creates an average of three new jobs and generates about $90,000 in tax revenue, according to data from the National Association of Home Builders

   AP-WF-07-25-13 1243GMT

  • Your MoneyMore>>

  • NY: Wal-Mart levied fake 'sugar tax' on soda

    NY: Wal-Mart levied fake 'sugar tax' on soda

    Tuesday, September 16 2014 2:53 PM EDT2014-09-16 18:53:56 GMT
    New York's attorney general has settled a false advertising investigation at Wal-Mart, saying stores were charging a nonexistent "sugar tax" on soda.
    New York's attorney general has settled a false advertising investigation at Wal-Mart, saying some store personnel were citing a nonexistent "sugar tax" on soda. Investigators say some consumers who complained were falsely told the state has a "sugar tax." They say the markup of more than 16 percent violated state laws.
  • Envelopes in Marriott hotels invite tips for maids

    Envelopes in Marriott hotels invite tips for maids

    Monday, September 15 2014 8:14 AM EDT2014-09-15 12:14:33 GMT
    Do you leave a tip in your hotel room for the maid?  Marriott is placing envelopes in 160,000 hotel rooms beginning this week to encourage guests to leave tips.
    Do you leave a tip in your hotel room for the maid?  Marriott is placing envelopes in 160,000 hotel rooms beginning this week to encourage guests to leave tips.
  • Housing activists protest Airbnb

    Housing activists protest Airbnb

    Friday, September 12 2014 7:41 PM EDT2014-09-12 23:41:17 GMT
    You've probably seen Airbnb commercials extolling the benefits of homeowners renting out their houses or apartments to out-of-town guests for a fee. Sharing is caring feel-good commercials.But housing activists say Airbnb is reducing available housing in New York City's increasingly expensive and shrinking housing market. They argue Airbnb is pushing thousands of apartments toward use as illegal hotels instead of affordable housing.
    You've probably seen Airbnb commercials extolling the benefits of homeowners renting out their houses or apartments to out-of-town guests for a fee. Sharing is caring feel-good commercials.But housing activists say Airbnb is reducing available housing in New York City's increasingly expensive and shrinking housing market. They argue Airbnb is pushing thousands of apartments toward use as illegal hotels instead of affordable housing.
Powered by WorldNow

KDFW FOX 4
400 N. Griffin Street
Dallas, Texas 75202

Main Station Directory:
(214) 720-4444
News Fax:
(214) 720-3263 or (214) 720-3333

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices