http://hendrengroup.biz/blog/2013/03/11/jobless-claims-unexpectedly-fall-7k/

JOBLESS CLAIMS

UNEXPECTEDLY FALL 7KThe figure of Americans applying for

unemployment benefits surprisingly cut down last

week, signifying an upturn in the labor market. This

could be very fastidious news. If the economy will

continue to rise, possible revival will soon be

realized. At some point recovery seems implausible

but turn of events is favoring us and results are even

enthralling. Early reports from the Labor

Department said on Thursday, state unemployment

benefits fell 7,000 to a seasonally adjusted 340,000,

waning for a second straight week.

The preceding week’s claims number was

altered to demonstrate 3,000 more applications

received than earlier reports. According to Reuters’

poll, economists had expected first-time applications

to mount to 355,000. The four-week inconsistent

average for new claims, an improved measure of

labor market trends, also fell 7,000 to 348,750

pointing to some firming in underlying labor market

conditions. Since March 2008, this has been the

lowest number. No states had been estimated and

there were no special factors influencing the report,

says a Labor Department analyst. According to a

Reuters’ survey of economists, employers probably

added 160,000 jobs to their payrolls last month, a

small pick-up up from January’s 157,000 count.

That would just be enough to hold the jobless rate steady

at 7.9%. The figures due on Friday have no bearing on February’s

employment report as it falls outside the survey period.

Economists claim job increases of about 250,000 per month over

a constant period are needed to significantly change the ranks of

the unemployed. Job escalation averaged 200,000 in the last three

months.

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