Initial Claims Fall 13K, But Fail to Meet Expectations
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Data from the Labor Department Thursday showed less U.S. citizens were looking for jobs last week. For the week ended April 16, the number of people seeking unemployment benefits fell by 13,000 to 403,000.
Economists were looking for sharper decline to around 390,000 claims.
Bloomberg notes the number is little changed from results at the end of 2010, leading one to ponder the question of exactly how far the U.S. economic recovery has come. "The lack of faster job growth is one reason Federal Reserve policy makers intend to complete their asset-purchase plan and keep borrowing costs near zero," Bloomberg commented.
Notably, the number of those receiving emergency benefits fell 70,000 to 4.24 million for the week ended April 2nd, 2011.
Continuing claims for the week ended April 9 came in at 3.695 million, down from an upwardly revised reading of 3.702 million for the prior week. Economists had been looking for a reading around 3.675 million.
Economists were looking for sharper decline to around 390,000 claims.
Bloomberg notes the number is little changed from results at the end of 2010, leading one to ponder the question of exactly how far the U.S. economic recovery has come. "The lack of faster job growth is one reason Federal Reserve policy makers intend to complete their asset-purchase plan and keep borrowing costs near zero," Bloomberg commented.
Notably, the number of those receiving emergency benefits fell 70,000 to 4.24 million for the week ended April 2nd, 2011.
Continuing claims for the week ended April 9 came in at 3.695 million, down from an upwardly revised reading of 3.702 million for the prior week. Economists had been looking for a reading around 3.675 million.
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