IE Business Daily Business news for the Inland Empire.
The number of U.S. residents applying for unemployment assistance rose for the second consecutive week.
Applications increased 12,000 last week to a seasonally adjusted 294,000, according to multiple reports.
Other data suggests that the number of unemployed workers applying for benefits is still low: the four-week average of applicants rose by only 250 applications to 282,750, nearly the lowest rate recorded in 15 years, the reports stated.
Also, the number of people collecting benefits fell to 2.27 million, the lowest rate in almost 14 years. Benefits have dropped primarily for two reasons: some people have found jobs while others have used all of their benefits, the reports stated.
Applications are down an average of 11 percent during the past year, indicating fewer layoffs and possibly more hiring, according to the reports.
