Thursday, February 3, 2011

Jobless Claims Fall

The number of U.S. workers filing new claims for unemployment benefits dropped sharply last week. Claims fell by 42,000 to 415,000 for the week ended Jan. 29.

It should be noted that there has been a lot of week to week noise in these numbers as a result of weather. The BLS revised the previous week's numbers, which were distorted by snow that hit a number of Southern states, to 457,000 claims from 454,000.

The previous week's figures, which were distorted by snow that hit four Southern states, were revised to 457,000 from 454,000.

Nevertheless, claims have been on a gradual decline since August last year, as unemployment insurance has begun to run out for some and Bernanke has cranked up his money printing..

No comments:

Post a Comment