Labor Department

Labor Department: The less volatile four-week average for applications fell to 305,000, the Labor Department said Thursday. Thats the lowest since May 2007, seven months before the recession began, according to 660 News. 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 and WASHINGTON The number of Americans seeking unemployment benefits rose just 1,000 last week to a seasonally adjusted 308,000, hovering near six-year lows. Companies are still cutting very few jobs, however the decline in layoffs has not been accompanied by a pickup in hiring. Weekly applications could increase next week because of the partial government shutdown. Defence 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. (www.immigrantscanada.com). As reported in the news.