New US jobless claims dips for 4th week
By Christopher S. Rugaber |
May 14, 2010, Friday
|
Print Edition
Print Edition
NEW claims for unemployment benefits in the United States dipped for the fourth straight week, a sign the job market is improving at a slow but steady pace.
Employers, encouraged by a recovering economy, are hiring again. But they are not doing it at the level needed to reduce the jobless rate.
The US Labor Department said yesterday that initial claims dropped last week by 4,000 to a seasonally adjusted 444,000. That's slightly above analysts' estimates, according to Thomson Reuters. The previous week's total was revised up to 448,000.
The four-week average, which smooths out volatility, registered a steeper decline.
It dropped by 9,000 to 450,500 - close to the average's lowest level this year reached in late March.
After dropping steadily last year from a peak of 651,000, first-time claims have fluctuated at around 450,000 since January.
Many economists believe claims need to fall below 425,000 to signal sustained job creation.
Other recent indicators have shown improvement in the job market.
Employers added 290,000 jobs in April, the most in four years. That's a positive sign that companies are confident enough in the economic recovery to step up recruitment of workers.
Employers, encouraged by a recovering economy, are hiring again. But they are not doing it at the level needed to reduce the jobless rate.
The US Labor Department said yesterday that initial claims dropped last week by 4,000 to a seasonally adjusted 444,000. That's slightly above analysts' estimates, according to Thomson Reuters. The previous week's total was revised up to 448,000.
The four-week average, which smooths out volatility, registered a steeper decline.
It dropped by 9,000 to 450,500 - close to the average's lowest level this year reached in late March.
After dropping steadily last year from a peak of 651,000, first-time claims have fluctuated at around 450,000 since January.
Many economists believe claims need to fall below 425,000 to signal sustained job creation.
Other recent indicators have shown improvement in the job market.
Employers added 290,000 jobs in April, the most in four years. That's a positive sign that companies are confident enough in the economic recovery to step up recruitment of workers.
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