US UN-EMPLOYEMENT :
Overall, 1.99 million Americans are collecting unemployment benefits, down more than 7 percent from a year ago.
THE TAKEAWAY:
Jobless claims are a proxy for layoffs. They have come in below 300,000 for 112 straight weeks, the longest streak since 1970. The numbers suggest that most American workers are secure in their jobs.
KEY DRIVERS:
The U.S. economy is healthy, if not booming. Employers are adding a healthy 175,000 jobs a month so far this year and are confident enough to be holding on to their workers. The U.S. unemployment rate fell last month to 4.5 percent, lowest in nearly a decade.
“The behavior of claims suggests there is room for the unemployment rate to decline further,” Raymond Stone, co-founder of Stone & McCarthy Research Associates, wrote in a research report.
Economists believe the economy grew slowly — at an annual pace of 1 percent or lower — from January through March. The Commerce Department releases the first-quarter numbers on Friday. But forecasters expect growth to pick up in the spring. Employers are optimistic about future sales and are posting job openings.
THE TAKEAWAY:
Jobless claims are a proxy for layoffs. They have come in below 300,000 for 112 straight weeks, the longest streak since 1970. The numbers suggest that most American workers are secure in their jobs.
KEY DRIVERS:
The U.S. economy is healthy, if not booming. Employers are adding a healthy 175,000 jobs a month so far this year and are confident enough to be holding on to their workers. The U.S. unemployment rate fell last month to 4.5 percent, lowest in nearly a decade.
“The behavior of claims suggests there is room for the unemployment rate to decline further,” Raymond Stone, co-founder of Stone & McCarthy Research Associates, wrote in a research report.
Economists believe the economy grew slowly — at an annual pace of 1 percent or lower — from January through March. The Commerce Department releases the first-quarter numbers on Friday. But forecasters expect growth to pick up in the spring. Employers are optimistic about future sales and are posting job openings.
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