US unemployment aid applications rise to 386K

WASHINGTON (AP) — More Americans sought unemployment aid last week, suggesting hiring remains sluggish.

The Labor Department said today that weekly unemployment benefit applications rose 6,000 to a seasonally adjusted 386,000, an increase from an upwardly revised 380,000 the previous week.

The four-week average, a less-volatile measure, rose for the third straight week to 382,000. That's the highest in six weeks.

Weekly applications are a measure of the pace of layoffs. When they drop below 375,000, it typically suggests hiring is strong enough to reduce the unemployment rate.

"The trend in jobless claims suggests ... that the underlying pace of employment growth has softened," said Bricklin Dwyer, an economist at BNP Paribas.

Applications fell steadily during the fall and winter but have since leveled off.