Slight Rise In Claims
Slight Rise In Claims, First-time claims for unemployment rose slightly to 291,000 for the week ending March 14, but not by as much as analysts feared.
Applications for unemployment insurance benefits were up just 1,000 from the previous week's level of 290,000, adjusted for seasonal fluctuations, the Department of Labor reported Thursday.
The four-week moving average of claims moved up by 2,250 to 304,750.
Falling claims are generally consistent with an improving labor market, with fewer people getting laid off and more finding new jobs.
Initial claims have headed downward over the course of the economic recovery, reaching the lowest seasonally-adjusted levels in over a decade in the fall. More recently, however, claims appear to have bottomed out, and the four-week moving average has been above 300,000.
Nevertheless, recent news regarding the jobs outlook has been encouraging. The economy added 295,000 payroll jobs in February, the Bureau of Labor Statistics reported earlier this month. Over the course of the past three winter months, job gains have accelerated to nearly 290,000 on average, despite severe cold and snowstorms snarling business in some states.
Thursday's unemployment claims data covers the week used in the surveys for the monthly jobs report.
In total, there were 2.9 million people receiving unemployment benefits at the end of February, down from 3.4 million a year ago.
Applications for unemployment insurance benefits were up just 1,000 from the previous week's level of 290,000, adjusted for seasonal fluctuations, the Department of Labor reported Thursday.
The four-week moving average of claims moved up by 2,250 to 304,750.
Falling claims are generally consistent with an improving labor market, with fewer people getting laid off and more finding new jobs.
Initial claims have headed downward over the course of the economic recovery, reaching the lowest seasonally-adjusted levels in over a decade in the fall. More recently, however, claims appear to have bottomed out, and the four-week moving average has been above 300,000.
Nevertheless, recent news regarding the jobs outlook has been encouraging. The economy added 295,000 payroll jobs in February, the Bureau of Labor Statistics reported earlier this month. Over the course of the past three winter months, job gains have accelerated to nearly 290,000 on average, despite severe cold and snowstorms snarling business in some states.
Thursday's unemployment claims data covers the week used in the surveys for the monthly jobs report.
In total, there were 2.9 million people receiving unemployment benefits at the end of February, down from 3.4 million a year ago.
Categories:
0 comments:
Post a Comment