A Flash Flood Watch is in effect through Sunday evening for most of Eastern Kentucky. Another round of heavy rain is likely early on Sunday and could lead to new high water problems. Remember if you come across a flooded road way to "Turn Around, Don't Drown!"
WASHINGTON (AP) - Fewer Americans sought unemployment benefits last week, indicating companies continue to hire at a modest but steady pace.
The Labor Department says weekly applications for unemployment benefits fell 5,000 to a seasonally adjusted 366,000. The four-week average, a less volatile measure, dropped to 350,500, the lowest in nearly five years. The average is low because of seasonal factors, which reduced applications sharply last month.
Weekly applications are a proxy for layoffs. When layoffs decline, net hiring typically rises.
The four-week average of applications has dropped nearly 6 percent in the past three months. At the same time, hiring has picked up: Employers added an average of 200,000 jobs a month from November through January.
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