Jobless claims at four-month high

Jobless claims at four-month high

Posted in the Minneapolis Forum

Smart Liberal

“The one and only Smart Liberal”

Since: Aug 12

Former MN Tax Payer

#1 Apr 4, 2013
Another success story for the Golfing President. The economy is going even further into the tank and he is planning another $2 million golf trip.

"Focused like a laser on job creation." BS.

----------

Jobless claims at four-month high, cast shadow over jobs market

By Lucia Mutikani

WASHINGTON | Thu Apr 4, 2013 12:14pm EDT

WASHINGTON (Reuters)- The number of Americans filing new claims for unemployment benefits hit a four-month high last week, the latest suggestion the labor market recovery lost some momentum in March.

Initial claims for state unemployment benefits increased 28,000 to a seasonally adjusted 385,000, the highest level since November, the Labor Department said on Thursday.

Economists, who had expected claims to drop to 350,000, said while part of the rise reflected difficulties adjusting the data during the Easter and spring breaks, there was no doubt the pace of job growth had eased.

"What we do know is that the growth momentum has slowed, employment has slowed. The question is how much?" said Millan Mulraine, a senior economist at TD Securities in New York.

That question will be answered on Friday when the government releases its closely monitored employment report for March.

According to a Reuters survey of economists, employers likely added 200,000 jobs to their payrolls last month after hiring 236,000 workers in February. The unemployment rate is seen steady at a four-year low of 7.7 percent.

However, the risks for a weaker reading are high after a report on Wednesday showed private employers added the fewest jobs in five months in March.

http://www.reuters.com/article/2013/04/04/us-...
Bushwhacker

Seattle, WA

#2 Apr 4, 2013
You kinda missed the reason, but incompetently blamed Obama, like always... Good "job", cowardly child !!

Pretty funny, you talk about golf outta both sides of your moronic mouth, too....

"The sequester is likely to slow March payroll growth and payrolls have outpaced broader measures of labor market improvement over the last few months," said Sven Jari Stehn, an economist at Goldman Sachs in New York.

The so-called sequester refers to the $85 billion in across the board government spending cuts that took hold on March 1.

Smart Liberal

“The one and only Smart Liberal”

Since: Aug 12

Former MN Tax Payer

#3 Apr 4, 2013
Ignorant people are such a bore.

The Sequester cuts nothing. The US Government will still spend more than it did last year, and it will spend more next year than it did this year.

The Sequester cuts the rate of growth. There are no real cuts in spending.

Since: Sep 11

Rogers, MN

#4 Apr 4, 2013
Smart Liberal wrote:
Ignorant people are such a bore.
The Sequester cuts nothing. The US Government will still spend more than it did last year, and it will spend more next year than it did this year.
The Sequester cuts the rate of growth. There are no real cuts in spending.
The only things the sequester made cuts to were the budget items that would garner the most PR power.
Bushwhacker

Seattle, WA

#5 Apr 4, 2013
Ignorant people ?? From your ARTICLE, BYTCH !!!

"The sequester is likely to slow March payroll growth and payrolls have outpaced broader measures of labor market improvement over the last few months," said Sven Jari Stehn, an economist at Goldman Sachs in New York.

The so-called sequester refers to the $85 billion in across the board government spending cuts that took hold on March 1."

Gotta love 3rd graders, they're so impotent.
Bushwhacker

Seattle, WA

#6 Apr 4, 2013
cantmakeitup wrote:
<quoted text>
The only things the sequester made cuts to were the budget items that would garner the most PR power.
On another thread, you said they're doing nothing !! Which "story" will be next ??? I can't wait for you to makeitup.
Bushwhacker

Seattle, WA

#7 Apr 4, 2013
Initial jobless claims increased 4.7% to a seasonally adjusted 357,000 for the week ending March 23, according to a Labor Department report released today. Market analysts had expected a slight week-to-week drop to 340,000 claims.

Following on the heels of a revised 2.1% bump the previous week, this newest report proved large enough to reverse the four-week moving average's month-long downward trend. It rose 0.7% for the week ending March 23.

Source: census.gov .

Despite the increases, both the most recent week's number and the moving average clocked in solidly below 400,000, a cutoff point that economists consider a sign of an improving labor market.

On a state-by-state basis, seven states recorded decreases of more than 1,000 in their initial jobless claims for the week ending March 16 (most recent available data). Pennsylvania (-2,500), New York (-2,120), and Georgia (-2,020) led the dip, citing fewer layoffs in a variety of sectors including construction, entertainment, professional, and manufacturing. Only two states recorded increases of more than 1,000. California's new claims clocked in up 3,000 due primarily to layoffs in the service industry, while Virginia added on 1,160 as a result of manufacturing layoffs.

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