More Ohioans seek unemployment aid, US claims fall

AP News
Posted: Jan 05, 2012 12:21 PM
More Ohioans seek unemployment aid, US claims fall

The number of people seeking unemployment benefits fell further in the final week of 2011, a positive sign for hiring one day ahead of Friday's December employment report.

Meanwhile, the government reports Ohio had one of the largest increases in claims during a week in mid-December. They were up by nearly 4,100 due to layoffs in the transportation, manufacturing, and construction industries.

The Labor Department says weekly applications dropped 15,000 to a seasonally adjusted 372,000 last week. It was the fourth drop in five weeks. The four-week average, which smooths fluctuations, declined to 373,250, the lowest level since June 2008.

When applications drop below 375,000 _ consistently _ they generally signal that hiring is strong enough to reduce the unemployment rate.

Applications have declined steadily over the past three months.