Fewer People Apply for Unemployment Benefits

Fewer people applied for unemployment benefits last week, providing support for the view that there will be stronger job growth this year.

Applications fell to a seasonally adjusted 385,000 last week, marking the third decline in the past four weeks, the Labor Department reported Thursday.

The four-week average for claims dropped to 386,250. That was the lowest level since July 2008, providing evidence that the job market is on a more solid footing.

Benefit applications below 425,000 signal modest job growth. But the level of applications needs to fall below 375,000 to be seen as a sign of sustained declines in the unemployment rate. Benefit applications peaked at 651,000 during the recession. Companies are finally hiring more after months of sluggish job creation. Employers added 192,000 jobs in February, the biggest gain in nearly a year. The unemployment rate dropped to 8.9 percent, the lowest point since April 2009.

Stronger job growth was a major reason the Federal Reserve this week offered its most optimistic assessment of the economy since the recession ended. Fed policymakers said the recovery was on "firmer footing" and the jobs market was improving gradually.

At their previous meeting on Jan. 26, the Fed had said that the progress in lowering the unemployment rate had been "disappointingly slow," a phrase it dropped in the statement summing up Tuesday's meeting.

While private economists also believe the economy is gaining momentum, they worry about a number of downside risks. Those range from a surge in oil prices caused by political turmoil in oil exporting countries to a devastating earthquake and ongoing nuclear crisis in Japan, the world's third largest economy.

The benefits report showed that the number of people receiving regular unemployment benefits fell by 80,000 to 3.71 million. That was the lowest level since the week of Sept. 27, 2008.

An additional 4.36 million unemployed workers received benefits under the extended programs during the week of Feb. 26, an increase of 53,000 from the previous week. In total, 8.95 million people were on the benefit rolls during the last week in February.

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alton

TIME RUNS OUT! NO MORE NEED TO SIGN!

April 01 2011 at 4:46 PM Report abuse rate up rate down Reply
americandoo

New Job Creation Idea for those on Unemployment.

What if after the 13th week of Unemployment the Government set up a new Program that required those who file for another extension of Unemployment to work at a Federal Run Manufacturing Plant that Manufactured Solar Powered Residential Green Houses. The Individual would have to work at one of these Plants one day out of the week to be eligible for his extension of Unemployment.

Guidelines As Follows;

1. The Individual on this Program would have his choice of Employment Positions according to his or her skills, such as building the solar panels, building the small green house structure, working in the office, and so on.

2. These Plants would be Plants that are already in foreclosure and these plants would be purchased by the Government and upgraded using all of the Green Technology available today or these Plants could remain the property of the Banks, Finance Company etc. and the Government could lease these Plants and pay for the upgrades from the small mark up of these Residential Solar Green Houses.

3. These Finished Solar Green Houses that would be totally Manufactured in the USA would be offered to ALL Citizens in the USA as an option of part of their State of Federal income tax refund that they have coming back and would be offered at the Cost only of these Green Houses.

4. The cost of these green houses would be figured out by the amount of labor costs and leasing upgraded costs of the Upgraded Plants and no additional profit would be added on to these portable small solar powered green houses. The Solar power would be set up to power the temperature control of these green houses so they could be used all year around. Small Wind generators could also be incorporated in to powering these green houses.


I honestly feel that most Americans would jump all over this and take advantage of this opportunity to own one of these green houses and this would also increase food production in the USA that needs to be done ASAP.. THESE GREEN HOUSES ARE THE FUTURE..So why not launch them NOW and help the unemployed and the Federal Budget and home owners and residents that would save food costs by growing their own food...A WIN WIN FOR EVERYONE ! !

Thank You, Michael V. Caldwell, "Always Striving To Be Part Of The Solution"

March 22 2011 at 12:33 PM Report abuse rate up rate down Reply
1 reply to americandoo's comment
inasctg56

Where I am when there's 60 manufacturing jobs come up, there are 2500 applicants. So don't tell me people would rather take a decrease in wages thru unemployment than working.

March 24 2011 at 10:59 AM Report abuse +1 rate up rate down Reply
fpfp040408

GOD BLESS OBAMA !! Unemployment down & market UP ! PRESIDENT OBAMA has been very effective in bringing legislation like health care and financil reform to fruition in the midst of two wars and a bad recession, which by the way, he had nothing to do with, and now when the Middle East is in termoil he has been very steady in handling the situation. He is the most intelligent president in modern history, and when he gets a second term and the Congress back, you will see new life given to a dying middle class

See full article from DailyFinance: http://srph.it/e7EVkK

March 20 2011 at 10:42 AM Report abuse +1 rate up rate down Reply
1 reply to fpfp040408's comment
alton

YOUR JOKING I HOPE!!!
APRIL FOOLS DAY?

April 01 2011 at 4:49 PM Report abuse rate up rate down Reply
fpfp040408

The RNC is Mulling over the Sale of TV Rights to Broadcast Primary Debates to pay off their 22 million debt ! HOW PATHETIC ! The RNC can not manage their own finances & create a huge debt that is accruing tremendous interest fees creating a greater debt/ financial mess --- YET : they clam they can handle the nations finances. Plus, by not paying their bills they are creating great financial hardship on many companies which now have to lay off people ! Thus RNC and Repubs are ADDING to the unemployment problem ! The RNC and Repubs promised to fix the unemployment crisis BUT they are only making it WORSE ! What a JOKE ! God Bless OBAMA

See full article from DailyFinance: http://www.dailyfinance.com/story/careers/fewer-people-apply-for-unemployment-benefits/19882623/?icid=sphere_copyright

March 20 2011 at 10:42 AM Report abuse +1 rate up rate down Reply
inasctg56

Just reported by Daily Finance: "A key gauge of the health of the manufacturing sector, the index posted its fastest expansion since 1984." All thanks to an administration who is workng with our manufacturing sector and trading partners negotiating better trade deals as the $45 billion new agreement with China. Also South Korea and now South America. For every 10% gain in exports, we gain 7% job growth. We have had 19 months of manufacturing gains and exports have had double digit gains. The dems policies work for american workers. The gop's works for corporations to make record proftis overseas. End of story.

March 19 2011 at 12:46 PM Report abuse +1 rate up rate down Reply
inasctg56

The business and finanancial areas (not govt) are predicting over 2 million in job growth this year as well as gdp increases of three to four. We are headed in the right direction if the gop doesn't interfere with their cuts to jobs and wages while handing it over to corporations in tax cuts.

March 18 2011 at 12:29 PM Report abuse rate up rate down Reply
inasctg56

For every 10% gain in exports we gain 7% in job growth. Look up on the internet how much our exports have increased under the Obama administration. It is amazing. And as those manufacturing checks come back into our communities they create demand for goods and services, which leads to more jobs, our tax base returns, and the natl debt can be dealt with more aggressively. The dems policies and legislation work; the gop's does not. They sold out american workers for record profits overseas.

March 18 2011 at 12:27 PM Report abuse rate up rate down Reply
inasctg56

For the past 19 months our manufacturing sector has seen very good gains as well as our exports thanks to having an administration that is working with them by negotiating better trade deals, enforcing existing trade laws, and passing legislation that allows business to write off 100% in improvements made in THIS country. The gop's throwing money at business and hoping it trickles down, does not work - they just take the money and run. And house majority leader Eric Cantor wants to return the 2004 gop legislation that taxes overseas profits at only 5.25%. More of the same failed policies.

March 18 2011 at 12:24 PM Report abuse rate up rate down Reply
gvisto19

Another misleading government statistic, the real indicator should be how many people are having money deposited into social security. If it goes up the economy is going up and jobs are being created goes down people are being laid off. All this one does is say businesses are in equilibrium with an equal amount of income to bills doesn't indicate that businesses are hiring or going to hire.The baby boomers are retiring in droves and going to accelerate in the years ahead which is going to skew the unemployment numbers. Just because a business is making a profit doesn't mean their going to invest in more employees when their not losing business just means more profit for them.

March 18 2011 at 5:14 AM Report abuse rate up rate down Reply
fpfp040408

GOD BLESS OBAMA !! Unemployment down & market UP ! PRESIDENT OBAMA has been very effective in bringing legislation like health care and financil reform to fruition in the midst of two wars and a bad recession, which by the way, he had nothing to do with, and now when the Middle East is in termoil he has been very steady in handling the situation. He is the most intelligent president in modern history, and when he gets a second term and the Congress back, you will see new life given to a dying middle class

See full article from DailyFinance: http://srph.it/gRpQCz

March 17 2011 at 8:04 PM Report abuse rate up rate down Reply