Signs Of An Improving Job Market
Claims for unemployment insurance are down for the fourth straight week. Employers are hiring again, but not at a fast enough rate to reduce the jobless rate.
The Labor Department said Thursday 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 fell by 9,000 to 450,500 — close to the average’s lowest level this year reached in late March.
Claims need to fall below 425,000 to have sustained job creation, but there are other positive indicators.
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 hiring.Click here for reuse options!
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