WASHINGTON (AP) — The number of Americans seeking unemployment benefits rose just 1,000 last week to a seasonally adjusted 308,000, hovering near six-year lows. Companies are still cutting very few jobs, however the decline in layoffs has not been accompanied by a pickup in hiring.

The less volatile four-week average for applications fell to 305,000, the Labor Department said Thursday. That’s the lowest since May 2007, seven months before the recession began.

Recommended Stories

Low prices, weak hiring raise odds of Fed action

Fewer Americans applying for jobless aid

Unemployment drops to lowest level in six months