Continued good numbers on new jobless claims
March 29, 2004Reuters reports: “An optimistic job signal? With average weekly claims at 3-year low, there’s some sentiment big employment gains are coming.”
New jobless claims were little changed last week, the government said Thursday, coming in near Wall Street forecasts and raising some hopes for a strong monthly jobs report next week.
The Labor Department said 339,000 people filed new claims for state unemployment benefits in the week ended March 20, compared with a revised 338,000 the prior week. . . .
The closely watched four-week moving average of initial jobless claims, which irons out weekly fluctuations, declined for a fourth straight week, to 341,500 from 344,500.
That was the lowest reading for average claims since 336,500 in January 2001.
The lack of job growth, despite other indications of an improving economy, has become a major concern of economists and investors, as well as an issue in this year’s presidential election. Thus the report on March payrolls and unemployment, due April 2, will be closely watched. Read more
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