Jobless claims decline

Jul 12, 2012

The Labor Department says claims for unemployment insurance benefits in Ohio fell last week by nearly 16-hundred. Nationally, claims fell by 26-thousand to a seasonally-adjusted 350-thousand. That is the lowest level in four years. The department credits seasonal factors for the decline. Automakers traditionally close their plants for the first two weeks in July to prepare to build new models, but this year they are limiting the shutdowns in order to increase production. That resulted in fewer temporary layoffs than normal. Applications must fall consistently below 375-thousand to lower the unemployment rate.