- Mammoth Recovered in Michigan
- More Crops But Lower Prices
- New Details Released in Oregon Shooting
- Get Out the Vote Event for CR Public Library
- Especially for You Race Sunday
- Clinton Wins Big Labor Union Endorsement
- Search Continues For Ship in Hurricane
- Eastern Iowa OT Scores
- Quick Response From Hospital After Crash
- Obama: Tally Shootings vs. Terrorist Attacks
- Hurricane Joaquin as seen from Space
- College Shooting Victims Identified
- UPDATE: Three Arrested in CR Chase
- Youth Police Academy for CR Students
- CR Store Treasures the Trash
- OR Shooter's Weapons Bought Legally
- Fire Strikes Two Fairfax Homes
- Spates Imprisoned for Girl's Death
- U.S. Hiring Slows
- Vatican Distances Pope From Kim Davis
- London Looking for NFL Team
- Calls for Beer Band to Clean Up
- Escaped Boa Costs Owner
- Most Mumps Cases in IA at UI
- School Bus Involved in Crash
- "No Quick Fix" for Criminal Justice System
- One Month To JoCo Wage Increase
- Kasich: Focused on Iowa
- Kasich: A Different Voice in 2016
- CBJ Report: October 1st
- 10 Dead in Oregon Comm. College Shooting
- Robillard Speaks On State Of UI
- Experts Support Secret Juvy Records
- Trump Hotels Hacked
- City Loses Only Grocery Store
- Details of IL Officer Death Released
- Netanyahu Criticizes Iran Deal at UN
- Man and Daughter Save Neighbors from Fire
- IA Couple Sentenced for Enticement
- Slowdown Predicted for Midwest Economy
- Not Guilty Plea Filed in CR Murders
- School Bus Driver Quits During Route
- John Deere and UAW Agree
- Domestic Violence Hotline Taking Calls
- ICPD Coffee With A Cop
- Wheels To Prosper Returns
- 2015 Next Gen. Summit Held In CR
- Youth 100 Plus Project
- Corridor Farmer Grows Unique Popcorn
- Created in the Corridor: Swineguard
Weekly Jobless Aid Ticks Up
Updated: Thursday, October 3 2013, 09:06 AM CDT
WASHINGTON (AP) -- The number of Americans seeking unemployment benefits rose just 1,000 last week to a seasonally adjusted 308,000, hovering near six-year lows. The tiny increase suggests companies are still cutting very few jobs.
The less volatile four-week average for applications fell to 305,000, the Labor Department said Thursday. That's the lowest since May 2007, seven months before the recession began.
Weekly applications could increase next week because of the partial government shutdown. Defense contractors and other companies that do business with the government may temporarily lay off workers. Federal workers who are temporarily laid off may also file for benefits, though their numbers are reported separately and published a week later than the other applications.
Still, the broader trend has been encouraging. Applications, which are a proxy for layoffs, have fallen steadily in the past three months as many companies have stopped laying off workers. That suggests more employers are confident enough in the economy to maintain their existing staffs.
Steady declines in applications are typically followed by more hiring. But that hasn't happened. Instead, job gains have slowed in recent months.
Employers have added an average of just 155,000 jobs a month in the four months through August, according to government data. That's down from an average of 205,000 for the first four months of the year.
On Wednesday, payroll provider ADP said that businesses added just 166,000 jobs in September, evidence that hiring remains sluggish. The ADP figures usually diverge from the Labor Department's more comprehensive monthly employment report, which was scheduled to be released Friday. But the September employment report will now be delayed until the government shutdown ends.
The economy may not be growing quickly enough to encourage companies to ramp up hiring. Most analysts forecast that growth has slowed to an annual rate of 1.5 percent to 2 percent in the July-September quarter, down from a 2.5 percent annual rate in the April-June quarter.
Economists predict that growth is rebounding to an annual rate of 2.5 percent to 3 percent in the current October-December quarter. But those forecasts were made before this week's impasse that shuttered the government. The shutdown could shave about 0.15 percentage points from the fourth quarter figure for each week it lasts.
2013 Associated Press. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.