Economy Unemployment up to 386K

WASHINGTON (AP) -- 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. Applications fell steadily during the fall and winter but have since leveled off. At the same time, hiring has slowed, raising concerns about the pace of the recovery. Published: Fri, Jun 15, 2012