10
Feb
11

inch by inch

Bloomberg: The number of Americans filing first-time claims for unemployment insurance fell to the lowest since July 2008 last week, showing further strength in the labor market after the jobless rate declined to a 21-month low.

Applications for jobless benefits decreased by 36,000, more than forecast, to 383,000 in the week ended Feb. 4, Labor Department figures showed today. Economists forecast claims would fall to 410,000…

A slowdown in firings means U.S. companies may begin creating enough jobs to keep unemployment going down after the rate’s biggest two-month decline since 1958.

….Fed Chairman Bernanke told the House Budget Committee yesterday that while the declines in the jobless rate in December and January “do provide some grounds for optimism,” companies need to hire more to reduce joblessness. “With employers reportedly still reluctant to add to their payrolls, it will be several years before the unemployment rate has returned to a more normal level,” Bernanke said…..


2 Responses to “inch by inch”


  1. 1 Fred
    February 10, 2011 at 9:31 am

    happy for those who have found jobs 😀

  2. 2 Asher in Boston
    February 10, 2011 at 11:35 am

    Some good news to keep us hoping.


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