New claims for unemployment aid fell nationwide last week to a seasonally adjusted 369,000. That level suggests slow, but steady job growth.
The Labor Department says unemployment benefit applications dropped by 23,000, from a revised 392,000 the previous week. The less volatile four-week average rose to 368,000.
The figures appear to have stabilized after being distorted in the previous two weeks by seasonal adjustment problems.
Applications have fluctuated between 360,000 and 390,000 since January. At the same time, employers have added an average of nearly 150,000 jobs a month. That's barely enough to lower the unemployment rate, which has declined from 8.3% to 7.8% this year.
The unemployment rate fell in September to 7.8%. That's the lowest level since January 2009 -- President Barack Obama's first month in office. The rate fell because a government survey of households found a huge increase in the number of people who had jobs. Still, a jump in part-time employment accounted for most of the gain. (AP)
