Posted on 04/21/2016 8:59:13 AM PDT by Nachum
The number of Americans filing for unemployment benefits unexpectedly fell last week, hitting its lowest level since 1973, suggesting an apparent sharp slowdown in economic growth in the first quarter could be temporary.
While another report on Thursday showed a mild weakening in factory activity in the mid-Atlantic region in April, manufacturers were fairly upbeat about business prospects in the next six months. This, together with labor market buoyancy bodes well for a pick-up in economic growth in the second quarter.
"The labor market continues to improve. If the apparent slowing in GDP in the first quarter was truly a sudden change in trend, we should have seen something happen in claims by now," said Jim O'Sullivan, chief U.S. economist at High Frequency Economics in Valhalla, New York.
Initial claims for state unemployment benefits declined 6,000 to a seasonally adjusted 247,000 for the week ended April16, the lowest reading since November 1973, the Labor Department said. Economists polled by Reuters had forecast claims rising to263,000 in the latest week.
Jobless claims have now been below 300,000, a threshold associated with healthy labor market conditions, for 59 weeks, the longest stretch since 1973. Labor market strength comes despite signs that growth stumbled in the first quarter.
(Excerpt) Read more at reuters.com ...
Misleading Statistics Based Claims in Washington, D.C. Reaches 42 1/2 Year High!
Keep at looking.
Don’t the let b*tards keep you down.
They trumpet this but in 3 or 4 weeks when the claims raise higher than in 30 years it won’t get a mention. We’ve seen this cycle for 7 years now.
“Unexpectedly”is the trigger word for “Here comes the bullshit.”
More lying and creative accounting. What a crock of BS.
Yes fun with numbers again. More people binge watching walking dead equals improving job market.
Which also means people aren’t quitting their jobs,looking for new work,so there is no people changing or going into new career fields.
I believe unemployment is quite low but a lot of the working population is overworked and less then happy,with where they are working.
There isn’t truly any a lot of meaningful work out there.
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