Applications for US unemployment aid fall to a 15-year low

In August, applications for US unemployment aid dropped to the lowest level in 15 years, although nearly 274.000 people filed for jobless benefits. This is a clear sign that Americans have a strong job security, and that the effects of the Great Recession are fading away for good.

Applications for unemployment aids are indicators for layoffs, so these number show that employers are enjoying a stable economy and don’t have to cut down jobs in order to retrench. Moreover, they reinforce other existing signs that denote an improving job market, according to economists. The fact that 215.000 jobs were added in July, and that the unemployment rate remained at 5.3 percent, a seven-year low, also points to a certain stability on the job market.

At the moment, 2.27 million people in the U.S. receive unemployment aid. In the last year, the number of Americans who applied for benefits dropped by 10.7 percent.