Fewer people sought U.S. unemployment benefits last week, evidence that layoffs are scarce and employers are likely hiring at a solid clip. THE NUMBERS: Weekly applications for unemployment aid slipped 4,000 to a seasonally adjusted 262,000, the Labor Department said Thursday. Still, solid hiring amid slow growth is a cause for concern. Tepid productivity growth could hobble the U.S. economy and keep a lid on pay gains. Greater productivity allows companies to boost workers' pay without raising prices.

Source: ABC News August 18, 2016 12:36 UTC