U.S. unemployment aid applications rise

More Americans sought unemployment aid last week, suggesting hiring remains sluggish.

The Labor Department said Thursday 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.  Read full article here