US Jobless Claims Drop

Published by: Mike Goldman on 3rd Feb 2011 | View all blogs by Mike Goldman
US Jobless Claims Drop

A report released Thursday by the US Labor Department showed initial jobless claims plunged last week to a seasonally adjusted 415,000, from 457,000 the week before.  Economists had projected claims would drop to 420,000 in a recent Reuters poll.

The Reuters survey also shows that economists believe 145,000 jobs were added to US payrolls in January, a belief that will either be confirmed or denied after the government employment report for the month is released on Friday.

Though the downward trend in initial jobless claims has seemingly been slowed by extreme winter weather in recent weeks, economists believe the data will creep below the 400,000 barrier,a level believed to signify a healthy jobs market.

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