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Economy Title: Fewer U.S. Workers Filed Jobless Benefits Claims for Third Week May 6 (Bloomberg) -- The number of Americans filing claims for jobless benefits last week dropped to the lowest level in a month, indicating improvement in the labor market will take time to develop. Initial jobless claims fell by 7,000 to 444,000 in the week ended May 1, the third consecutive decrease and in line with the median forecast of economists surveyed by Bloomberg News, Labor Department figures showed today in Washington. The number of people receiving unemployment insurance decreased and those getting extended payments rose. Companies from Berkshire Hathaway Inc. to Caterpillar Inc. are starting to add workers to meet rising demand, which may help lift incomes and consumer spending. A report tomorrow is projected to show employers increased payrolls for the third time in the past four months. “The economy is beginning to create new jobs again,” Steven Wood, president of Insight Economics LLC in Danville, California, said before the report. At the same time, he said, “the pace of any employment rebound will likely be relatively sluggish.” Jobless claims were projected to drop to 440,000 from 448,000 initially reported for the prior week, according to the median forecast of 45 economists in a Bloomberg survey. Estimates ranged from 425,000 to 455,000. The productivity of U.S. workers rose in the first quarter at the slowest pace in a year as employers had to take on more staff to meet growing demand, another Labor Department report showed. Productivity Slows The measure of employee output per hour climbed at a 3.6 percent annual rate, more then projected, after increasing at a 6.3 percent pace the previous three months. Efficiency climbed 6.3 percent over the past four quarters, the biggest 12-month gain since 1962. Labor costs last quarter fell more than estimated by the median forecast of economists surveyed. The four-week moving average of initial claims, a less volatile measure than the weekly figures, fell to 458,500 last week from 463,250. The number of people continuing to receive jobless benefits dropped by 59,000 in the week ended April 24 to 4.59 million. They were forecast to drop to 4.61 million. The continuing claims figure does not include the number of Americans receiving extended benefits under federal programs. Extended Benefits Those who’ve used up their traditional benefits and are now collecting emergency and extended payments increased by 153,000 to 5.56 million in the week ended April 17. The unemployment rate among people eligible for benefits, which tends to track the jobless rate, held at 3.6 percent for a third week in the week ended April 24. Eighteen states and territories reported an increase in claims, while 35 reported a decrease. These data are reported with a one-week lag. Initial jobless claims reflect weekly firings and tend to fall as job growth -- measured by the monthly non-farm payrolls report -- accelerates. Payrolls probably rose again in April following a gain of 162,000 in March that was the biggest in three years, according to the Bloomberg survey median. The unemployment rate held at 9.7 percent last month, economists in the survey projected. The Labor Department figures are due tomorrow. Billionaire Warren Buffett, whose Berkshire Hathaway Inc. cut more than 20,000 jobs last year, said his Omaha, Nebraska- based company is now adding staff as the economic recovery boosts demand at its industrial units. “We do hire people when we have something for them to do,” Buffett told investors last week in Omaha, Nebraska, where Berkshire held its annual shareholders’ meeting. “We are a net hirer now.” Companies in the U.S. added workers in April for a third month, according to data yesterday based on private payrolls from ADP Employer Services. The 32,000 increase was the most since January 2008 and followed a revised 19,000 gain the prior month, the figures showed. Post Comment Private Reply Ignore Thread Top • Page Up • Full Thread • Page Down • Bottom/Latest
#1. To: Boofer (#0)
States in on the conspiracy too, Boof?
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
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