U.S. Unemployment Benefit Applications Fall To Lowest Level In Month
Source: Associated Press
WASHINGTON >> Applications for unemployment benefits fell last week to the lowest in a month as improvements in the economy prompted employers to retain workers.
Jobless claims declined by 15,000 to 330,000 in the period ended Jan. 4, the Labor Department reported Thursday in Washington. The median forecast of 47 economists surveyed by Bloomberg projected 335,000. The data can be volatile after the holidays as temporary workers are dismissed, a Labor Department spokesman said as the report was released to the press.
Employers are probably becoming more confident the economy will pick up as consumer spending improves and fiscal policy becomes less restrictive after lawmakers agreed on ways to limit budget cuts slated for this year. A report Friday is projected to show that the employment gain for 2013 was the biggest in eight years.
“The labor market is continuing to strengthen as we go into 2014,” said Kevin Cummins, an economist at UBS Securities in Stamford, Conn., who accurately forecast the drop in claims. “We should continue to see the unemployment rate go lower.”
Read more: http://www.nhregister.com/general-news/20140109/us-unemployment-benefit-applications-fall-to-lowest-level-in-month
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