Oct 20 (Bloomberg) The number of Americans filing applications for the unemployment benefits declined last week to a level that shows little improvement in the labor market since the start a year and the jobless claims dropped by 6,000 to 403,000 in the week ended Oct 15 for the Labor Department figures showed today in Washington for a median forecast in a Bloomberg News survey called for a drop to 400,000 applications to a 4 week average fell to the lowest level since April.
The companies are still paring their workforces at the same time demand has fallen short of the level that may spur businesses to expand staff to lack of employment growth is limiting consumer spending and restraining the recovery and the underscores the challenge for President Barack Obama, who is trying to push Congress to pass parts of his jobs initiative to We’re running in place, said Scott Brown, chief economist at Raymond James & Associates Inc. in St. Petersburg, Florida, who projected 405,000 claims and the data are “consistent with lackluster to moderate growth in the job market and the economy, he said.
The number of people on unemployment benefit rolls rose, while those receiving extended payments fell, today’s report showed to a jobless benefits applications were projected to decline from 404,000 initially reported for the prior week in according to the median forecast of 46 economists in a Bloomberg survey. Claims at the end of 2010 stood at 418,000 and the estimates ranged from 390,000 to 420,000 to the Labor Department revised the prior week’s figure up to 409,000.
The companies are still paring their workforces at the same time demand has fallen short of the level that may spur businesses to expand staff to lack of employment growth is limiting consumer spending and restraining the recovery and the underscores the challenge for President Barack Obama, who is trying to push Congress to pass parts of his jobs initiative to We’re running in place, said Scott Brown, chief economist at Raymond James & Associates Inc. in St. Petersburg, Florida, who projected 405,000 claims and the data are “consistent with lackluster to moderate growth in the job market and the economy, he said.
The number of people on unemployment benefit rolls rose, while those receiving extended payments fell, today’s report showed to a jobless benefits applications were projected to decline from 404,000 initially reported for the prior week in according to the median forecast of 46 economists in a Bloomberg survey. Claims at the end of 2010 stood at 418,000 and the estimates ranged from 390,000 to 420,000 to the Labor Department revised the prior week’s figure up to 409,000.
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