Fewer people seek unemployment aid

Fewer people seek unemployment aid

WASHINGTON

Fewer people sought U.S. unemployment benefits last week as employers remain confident enough in the economy to hold onto their staffs.

The Labor Department said Thursday the number of applications for weekly unemployment aid fell 15,000 to 281,000. The four-week average, a less volatile figure, rose 3,250 to 282,500. Both figures remain below 300,000, a very low level historically that points to a solid job market.

Applications are a proxy for layoffs, so last week’s readings show that businesses are cutting few jobs. Applications have been below 300,000 since March.

Builder sentiment highest since 2005

U.S. homebuilders’ confidence in the market for new homes is back up to levels not seen since the height of the housing boom a decade ago.

The National Association of Home Builders/Wells Fargo builder sentiment index released Thursday rose this month to 60, the highest level since November 2005.

The latest reading is unchanged from May, which was revised upward 1 point from 59. July’s reading is up from 53 a year ago. Readings above 50 indicate more builders view sales conditions as good, rather than poor.

Builders’ view of current sales conditions and their outlook for sales over the next six months also rose. A measure of traffic by prospective buyers fell slightly.

Hackers get United miles for finding security flaws

Two hackers have scored a million frequent-flier miles each on United Airlines for finding security holes in the airline’s computer systems.

The awards were made under a security program that United started in May. Technology companies have offered so-called bug bounties, but they are unusual in the transportation industry.

United spokesman Luke Punzenberger said Thursday that two people have received the maximum award of 1 million miles each, and others got smaller awards. A million miles is enough for several first-class trips to Asia or up to 20 round-trips in the U.S.

New rule aimed at streams near mines

WASHINGTON

The Obama administration proposed new regulations Thursday designed to reduce the environmental impact of coal mining on the nation’s streams, a long-anticipated move that met quick resistance from Republicans, even as the administration projected only modest job losses in coal country.

Current federal regulations designed to protect streams near coal mines date back to 1983. The proposed rule would maintain a buffer zone that prevents coal mining from within 100 feet of streams to prevent debris from being dumped into the water. But the proposal also sets clearer guidelines for companies to follow when exceptions to the 100-foot buffer occur.

Wire reports