The number of U.S. workers filing first-time applications for unemployment
benefits fell to a three-year low in the week ending March13, as initial
jobless claims fell by 6,000 to a seasonally adjusted 336,000. Following
the recent trend, the four-week average also declined to a three-year low,
falling by 2,000 to 344,000 on a seasonally adjusted basis. Analysts were
expecting a rise of 4,000 to 345,000. A standard statement with this
release; "Weekly initial claims of less than 400,000 typically signal an
improving labor market according to many economists," is getting quite
frayed. The number has consistently stayed below that threshold for more
than six months, but job growth has been disappointing to say the least.
Continuing claims for the week ending March 6 (remember that this figure
always lags by one week) rose by 47,000 to 3,064,000. |
