U.S. jobless claims rise; revisions show stronger labor market

[mahatmakanejeeves]

Source: Reuters

Markets | Thu Mar 24, 2016 8:35am EDT
U.S. jobless claims rise; revisions show stronger labor market

WASHINGTON, March 24

The number of Americans filing for unemployment benefits rose modestly last week while revisions for prior weeks showed the labor market was much stronger than previously thought.

Initial claims for state unemployment benefits increased 6,000 to a seasonally adjusted 265,000 for the week ended March 19, the Labor Department said on Thursday. The prior week's claims were revised to show 6,000 fewer applications received than previously reported.

Economists polled by Reuters had forecast claims rising to 268,000 in the latest week. The government also revised data going back to 2011, which showed claims trending lower than previously reported. Claims for the week ended March 5 were the lowest since November 1973.

A Labor Department analyst said there were no special factors influencing last week's claims data and no states had been estimated. Applications for jobless benefits have now been below 300,000, a threshold associated with healthy labor market conditions, for 55 weeks, the longest stretch since 1973.

Read more: http://www.reuters.com/article/us-usa-economy-idUSKCN0WQ1B1

[whatthehey]

1. Longest stretch since 73 with a labor force 2/3 the size

In other words a much lower layoff number as a ratio to workers than has been seen for an entire working life at least and probably much longer.


That and well over 5 million openings, but the doomers will still say there are no jobs "out there". I have a feeling that Boise underwater welder was not as notable an anecdote as I had thought.