US unemployment aid applications hit 4-year low - WKOW 27: Madison, WI Breaking News, Weather and Sports

US unemployment aid applications hit 4-year low

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WASHINGTON (WKOW) -- The number of people seeking unemployment aid in the U.S. fell to a four-year low last week.

The Labor Department says weekly applications dropped 5,000 to a seasonally adjusted 348,000, the lowest level since February 2008. The four-week average of applications dipped to 355,000, near a four-year low.

Applications have steadily declined since last fall. The drop has coincided with the best three months of hiring in two years.

The report suggests that employers likely added jobs at a healthy pace in March for the fourth straight month.

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