Jobless Claims Fall as Labor Recovery Grinds On

[jpak]

Source: Wall Street Journal

WASHINGTON—A key measure of U.S. job layoffs fell to a five-year low last week, an encouraging sign for the strengthening labor market ahead of Friday's broader employment report.

The four-week moving average of jobless claims, which smooths out the often volatile weekly data, dropped by 7,000 to 348,750 for the week ended March 2—the lowest level since March 2008, the Labor Department said Thursday. Last week alone, initial jobless claims decreased by 7,000 to a seasonally adjusted 340,000.

"The trend in the data appears to be improving somewhat despite the fiscal tightening through tax increases implemented at the start of the year," said Daniel Silver, an economist with J.P. Morgan Chase.

The number of new claims has fallen in four of the past five weeks. Economists generally believe the labor market is strengthening when claims are below 400,000.

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Read more: http://online.wsj.com/article/SB10001424127887323628804578346031331397290.html

[Kingofalldems]

1. Kick and Rec for all the freepers

[pampango]

2. Love it: Wall Street Journal's take - Labor Recovery Grinds On.

"The trend in the data appears to be improving somewhat despite the fiscal tightening through tax increases implemented at the start of the year..."

"What do we have to do to this economy to put it in the tank so Obama will get the blame? We have been trying to sabotage American workers for 4 years (actually much longer) and what good has it done our party? Maybe the sequester-required spending cuts will do it. We, Republicans, just can't catch a break."

Doesn't sound like they are too thrilled about it at the WSJ.