green shoots

CNN: The number of Americans filing for first-time unemployment benefits eased more than expected last week, setting the stage for the government’s closely-watched jobs report due Friday.

There were 415,000 initial jobless claims filed in the week ended Jan. 29, the Labor Department said Thursday. That was down 42,000 from the week before, and better than the 425,000 claims economists surveyed by Briefing.com had expected.

…Continuing claims — which include people filing for the second week of benefits or more — fell to 3,925,000 in the week ended Jan. 22, a decline of 84,000 from the week before.

…”You have to take this labor indicator along with other broad indicators we have like ADP and the payroll numbers coming out tomorrow — which, taken as a complete basket, all point to improving labor market conditions,” said Robert Dye, a senior economist at PNC Financial Services.

“I think we’re on an improving trend here and in the next couple of weeks we’re likely to see even more improvement, indicating that labor conditions are starting to turn the corner and that we should see more hiring in 2011,” he said.

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1 Response to “green shoots”

  1. 1 majii
    February 3, 2011 at 1:54 pm

    I’m seeing green shoots in my own neighborhood. A shopping center that has been empty for the last 3 years has five new businesses that have opened in the past month! One of my nephews had a job at a company on a temporary basis that hired him on as a permanent employee a few weeks ago. It has made all the difference in the world seeing him go from a state of doom and gloom in December 2010 to one of optimism in January 2011.

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