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Weekly jobless claims off sharply



 UPI 2/14/2013 1:46:54 PM
WASHINGTON, Feb. 14 (UPI) --
The U.S. Labor Department said first-time jobless benefits claims fell by 27,000 to 341,000 in the week that ended Saturday.

Initial claims for unemployment benefits dropped from 368,000, a figure revised from the 371,000 announced last Thursday.

The four-week rolling average for the week rose 352,500, up 1,500 from the previous week.

The unadjusted advance number of first-time unemployment benefits claims under state programs totaled 359,428 for the week, a 29,014 decrease from the previous week, the Labor Department said.

For the comparable week of 2012, there were 365,014 initial claims.

US unemployment aid applications fall to 341,000
AP 2/14/2013 1:47:24 PM
(AP) US unemployment aid applications fall to 341,000
AP Economics Writer
The number of people seeking unemployment benefits fell by 27,000 last week, an indication that hiring could improve.

The Labor Department said Thursday that weekly applications dropped to a seasonally adjusted 341,000, the lowest level in three weeks. The four-week average, a less volatile measure, ticked up to 352,500 from a five-year low of 351,000 the previous week.

The snowstorm that hit the Northeast this weekend had limited impact on the latest figures. The report covers the week ended Feb. 9, before the storm hit. The Labor Department said it estimated figures for two states, including Connecticut where the storm closed state offices. Illinois also didn't provide data.

The broader trend has been favorable. The four-week average has fallen nearly 5 percent in the past three months. Applications are a proxy for layoffs. As they fall, net hiring typically rises.

Job gains have picked up in the past three months. Employers added an average of 200,000 jobs a month from November through January.

The economy added 157,000 jobs in January, the government said earlier this month. And revisions showed employers added 181,000 jobs per month last year, up from an earlier estimate of 153,000.

Still, unemployment remains high. The unemployment rate ticked up to 7.9 percent in January from 7.8 percent in December. Economists expect the rate will decline if hiring continues at last year's monthly pace of 180,000. The rate fell 0.7 percentage points in 2012.

The economy contracted at an annual rate of 0.1 percent in the October-December quarter, hurt by a sharp cut in defense spending, fewer exports and sluggish growth in company stockpiles. That's much slower than the 3.1 percent growth recorded in the July-September period.

Still, economists expect that figure will be revised in the coming months to show a small increase, after more data about last quarter has been reported. Economists at Barclays Capital estimate the economy expanded 0.5 percent in the fourth quarter.

Growth will likely pick up a bit in the January-March quarter to an annual rate of 1.5 percent, analysts forecast. That's better than the fourth quarter but below last year's expansion of 2.2 percent.

27,000 is "sharply" off?   :thud:


--- Quote from: Rapunzel on February 14, 2013, 06:42:50 pm ---27,000 is "sharply" off?   :thud:

--- End quote ---

We both know that most Americans don't read past headlines. Heck, I'd wager most Americans don't even SEE the headlines in their searches to find what Kim Kardashian has been up to.

So, the media is influencing the nominally informed voters.


--- Quote from: Rapunzel on February 14, 2013, 06:42:50 pm ---27,000 is "sharply" off?   :thud:

--- End quote ---

Does it say anywhere how many of those 27, 000 simply gave up and quit looking? NO it does not!


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