Connect With PPD
Follow Us:
Sections: Economy

Weekly Jobless Claims Fall, But 4-Week Average Still Above 300K

The number of Americans filing new jobless claims fell more than expected last week, according to a report released by the Labor Department Thursday. Economists polled by Reuters had forecast claims falling to 305,000 last week, but first-time claims for state unemployment benefits fell by 36,000 to a seasonally adjusted 289,000 for the week ended March 7.

The data reversed some of the prior two weeks’ increases. However, the previous reports had pushed claims well above the 300,000 mark, and it remains slightly above still.

While some economists will blame harsh weather caused for the recent volatility in claims this year, the bottom line is that the abysmally low labor participation rate reduces the pool of eligible Americans. Regardless of the decline, it should not hover from a high 200,000 to low 300,000 range with so few eligible to collect first-time unemployment benefits.

A Labor Department analyst said there was nothing unusual in the state-level data.

The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 3,750 to 302,250 last week. Thursday’s claims report showed the number of people still receiving benefits after an initial week of aid fell 5,000 to 2.42 million in the week ended Feb. 28.

READ FULL STORY

SubscribeSign In
PPD Business Staff

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

Share
Published by
PPD Business Staff

Recent Posts

Media’s Worst Russian Collusion Sins May Soon Be Repeated

The most damning journalistic sin committed by the media during the era of Russia collusion…

1 year ago

Study: Mask-Mandates and Use Not Associated With Lower Covid-19 Case Growth

The first ecological study finds mask mandates were not effective at slowing the spread of…

3 years ago

Barnes and Baris on Big Tech’s Arbitrary Social Media Bans

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris note how big tech…

3 years ago

Barnes and Baris on Why America First Stands With Israel

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris discuss why America First…

3 years ago

Personal Income Fell Significantly in February, Consumer Spending Weaker than Expected

Personal income fell $1,516.6 billion (7.1%) in February, roughly the consensus forecast, while consumer spending…

4 years ago

Study: Infection, Vaccination Protects Against Covid-19 Variants

Research finds those previously infected by or vaccinated against SARS-CoV-2 are not at risk of…

4 years ago

This website uses cookies.