BUSINESS DIGEST || Shale info session

Shale info session

lisbon

People interested in training for careers in the shale industry can attend a free information session from 3:30 to 5:30 p.m. May 21 at Columbiana County Career and Technical Center, 9364 State Route 45.

The session will provide information on entry-level jobs in natural-gas drilling and production. Enrollment information for ShaleNET, Eastern Gateway Community College and career and technical center programs also will be offered.

For information, call Kelly Weikart at the center at 330-424-9561, ext. 110.

Applications for jobless aid drop

WASHINGTON

The number of people applying for U.S. unemployment benefits ticked down last week after a sharp drop the previous week.

Applications are falling again after rising for most of April, suggesting hiring could pick up this month.

Weekly applications dropped 1,000 to a seasonally adjusted 367,000 in the week ending May 5, the Labor Department said Thursday. The previous week’s figure was revised up slightly.

The four-week average, a less-volatile measure, fell by 5,250 to 379,000. It was the first decline since late March.

Applications are a measure of the pace of layoffs. When they stay consistently below 375,000, it suggests job growth is strong enough to lower the unemployment rate.

30-year mortgage rate drops to 3.83%

WASHINGTON

Average U.S. rates for 30-year and 15-year fixed mortgages fell to fresh record lows this week. Cheap mortgage rates have made home-buying and refinancing more affordable than ever for those who can qualify.

Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan ticked down to 3.83 percent. That’s the lowest since long-term mortgages began in the 1950s. And it’s below the previous record rate of 3.84 percent reached last week.

The 15-year mortgage, a popular option for refinancing, dropped to 3.05 percent, also a record. That’s down from last week’s previous record of 3.07 percent.

Vindicator staff/wire reports