Is it good news that so many are reduced to flipping burgers or stocking Walmart shelves or, more likely, both?
WASHINGTON (AP) - The number of Americans seeking unemployment benefits dropped 15,000 last week to a seasonally adjusted 320,000, the fewest since October 2007 - a sign of dwindling layoffs and steady if modest job growth.
The Labor Department said Thursday that the less volatile four-week average fell 4,000 to 332,000, the fewest since November 2007 and the fifth straight decline.
Applications, which reflect layoffs, have fallen 14 percent this year. That's a sign that companies are cutting fewer workers. But hiring is still sluggish, resulting in only modest net job gains.