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Applications are a measure of the rate of layoffs.
The rate of layoffs as measured by jobless claims is the lowest level since 1969.
Now, the rate of layoffs is lower than at any time before the recession.
In addition to job gains in several industries, he said, "the rate of layoffs is slowing, even in some of the weaker sectors".
Economists closely track initial claims, which are considered a gauge of the rate of layoffs and an indication of companies' willingness to hire new workers.
Although the rate of layoffs dropped considerably in the early 2000s and unemployment started falling, Chinese people's concerns about jobs and safety-net benefits persisted.
Similar(51)
We're seeing a much more rapid rate of layoff announcements".
During much of the past decade when the U.S. economy was growing at a healthy rate, Michigan's was faltering with high rates of layoffs and taxes, and the state economy has shed approximately 300,000 jobs on Granholm's watch.
Steve Hipple, the economist at the bureau who oversees the job displacement data, said that the rate of job layoffs was probably understated in the earlier data.
This paper exploits variation in shutdown rates across industries and within an industry over time to explain the rate of permanent layoffs and the growth of workers' earnings.
The pace of layoffs has increased, but the peak layoff rate this year was the same as it was during the 2001 recession, which was a fairly mild downturn.
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