Fewest in US since ’07 seek jobless aid
The number of Americans seeking unemployment benefits dropped 15,000 last week to a seasonally adjusted 320,000, the fewest since October 2007 — a sign of dwindling layoffs and steady if modest job growth.
The Labor Department said Thursday that the less- volatile four-week average fell 4,000 to 332,000, the fewest since November 2007 and the fifth-straight decline.
Companies are laying off fewer workers, a trend that has lowered applications for unemployment benefits 14 percent this year. But hiring is still sluggish, resulting in only modest net job growth.
Ford to cut mileage estimates for C-Max
The U.S. government may change the rules for the gas- mileage estimates that car buyers see on window stickers after finding that fuel- economy figures for Ford’s C-Max gas-electric hybrid were inflated.
The Environmental Protection Agency, which monitors mileage testing, said Thursday that it will cut the C-Max’s combined city-highway mileage estimate by nearly 9 percent to 43 mpg, from 47. Ford Motor Co. will change its window stickers to reflect the correct estimate and said that it will compensate drivers for the difference.
C-Max buyers will get a $550 check, while those who leased will receive $325. The checks will be sent soon, the company said.
Ford followed EPA test procedures in calculating the mileage and did nothing wrong, said Christopher Grundler, the agency’s director of transportation and air quality. The problem stemmed from agency guidelines that allow automakers to test one vehicle, then use its mileage estimates for other car models that have the same engines, transmissions and weight classifications, he said.