Weekly jobless claims plummet to 346K
Labor Department: Unemployment aid applications fell 42,000 last week, reversing sharp gains over the previous two weeks
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Economic Report: U.S. jobless claims drop 42,000 to 346,000
New applications for unemployment benefits fell sharply last week after a spike the week before, largely reflecting seasonal quirks around Easter and spring break and signaling little change in the trajectory of a slowly mending labor market.
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U.S. Unemployment Aid Applications Plummet to 346K
(WASHINGTON) — The number of Americans seeking U.S. unemployment benefits fell sharply last week to a seasonally adjusted 346,000, suggesting March’s weak month of hiring may be a temporary slowdown. The Labor Department says weekly unemployment aid applications fell 42,000 last week, reversing sharp gains over the previous two weeks. The four-week average, a less volatile measure, rose 3,000 to 358,000. The data have been volatile in the past two weeks largely because of the Easter holiday, a department spokesman says. The timing of the holiday changes from year to year. That makes it difficult to adjust for school holidays that can cause temporary layoffs. Employers added only 88,000 jobs in March after averaging 220,000 the previous four months. The drop in unemployment benefits suggests hiring could pick up again in April. MORE: How ‘Made in the USA’ is Making a Comeback
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U.S. Economy Adds 88,000 Jobs, Rate Drops to 7.6%
(WASHINGTON) — U.S. employers added just 88,000 jobs in March, the fewest in nine months and a sharp retreat after a period of strong hiring. The slowdown is a reminder that the job market’s path back to full health will be uneven. The Labor Department said Friday that the unemployment rate dipped to 7.6 percent from 7.7 percent. While that is the lowest rate in four years, it fell last month only because more people stopped looking for work. The government counts people as unemployed only if they are actively looking for a job. The percentage of Americans working or looking for jobs fell to 63.3 percent in March, the lowest in nearly 34 years. The weakness in March may signal that some companies were worried last month about steep government spending cuts that began on March 1. (MORE: U.S. Unemployment Aid Applications Jump to 385,000) March’s job gains were half the pace of the previous six months, when the economy added an average of 196,000 jobs a month. The drop raises fears ...
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U.S. Unemployment Aid Applications Jump to 385,000
(WASHINGTON) — The number of Americans seeking unemployment aid rose last week by 28,000, the third straight increase. Weekly applications increased to a seasonally adjusted 385,000, the Labor Department said Thursday. That’s the highest level since late November. The gain pushed the four-week average, a less volatile measure, to 354,250. A Labor Department spokesman says the figures may have been affected by the Easter holiday. The department says the holiday’s timing varies from year to year, which makes it difficult to adjust for school closings and other seasonal factors that can alter the data. Applications are a proxy for layoffs. They have declined steadily since November, pushing the average to a five-year low three weeks ago. The recent increases could be a sign that companies are starting to cut jobs, possibly because of steep government spending cuts that began on March 1. Earlier reports this week suggested that companies may have slowed hiring this month after four months ...
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