Thursday, April 11, 2013
Unemployment claims take a big drop
First-time
claims for unemployment benefits fell by 42,000 in the latest week to
346,000 from an upwardly revised 388,000 a week earlier, the Labor Department said Thursday.
Last week's claims were originally estimated at 385,000, up 28,000 from the week before.
The 4-week moving average was 358,000, up 3,000 from the previous week's revised average of 355,000.
The data have been volatile the past two weeks largely because of the Easter holiday, a department spokesman says. The timing of the holiday changes from year to year. That makes it difficult to adjust for temporary layoffs.
The most recent monthly employment report said employers added only 88,000 jobs in March after averaging 220,000 the previous four months. The drop in unemployment benefits suggests hiring could pick up again in April.
Contributing: Associated Press
http://www.usatoday.com/story/money/business/2013/04/11/unemployment-claims-weekly/2073379/Last week's claims were originally estimated at 385,000, up 28,000 from the week before.
The 4-week moving average was 358,000, up 3,000 from the previous week's revised average of 355,000.
The data have been volatile the past two weeks largely because of the Easter holiday, a department spokesman says. The timing of the holiday changes from year to year. That makes it difficult to adjust for temporary layoffs.
The most recent monthly employment report said employers added only 88,000 jobs in March after averaging 220,000 the previous four months. The drop in unemployment benefits suggests hiring could pick up again in April.
Contributing: Associated Press
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