U.S. JOBLESS CLAIMS HOVER NEAR PRE-RECESSION LEVELS
New applications for unemployment benefits held near their pre-recession leveis last week, offering further evidence of the economy's underlying strength.
lnitial claims for state unemployment benefits ticked up 2,000 to a seasonally adjusted 304,000 for the week ended April 12, the Labor Department said on Thursday. They stayed dose to a 6-1/2 year low touched the prior week.
Economists polled by Reuters had forecast first-time applications for jobless benefits rising to 315,000.
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The claims data covered the survey week for April nonfarm payrolls. Despite last week's increase, claims were down 19,000 between the March and April survey periods, which suggests an acceleration in job growth.
Job growth averaged about 195,000 per month in February and March, with the unemployment rate holding at near a five-year low of 6.7 percent over that period.
Labor market indicators such as job openings, the duration of unemployment and short-term unemployment, suggest some tightening in conditions.
On Wednesday, Federal Reserve Chair Janet Yellen said it was "quite plausible" the economy would be back to near full employment by the end of 2016.
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The claims report showed the number of people still receiving benefits after an initial week of aid dropped 11,000 to 2.74 million in the week ended April 5. That was the lowest levei since December 2007.
By Lucia Mutikani - Adapted from
http://www.reuters.com/article/2014/04/17 /us-usa-economy
idUSBREA3FOU920140417
What can be inferred from the first paragraph in the text? "New applications for unemployment benefits held near their pre-recession levels last week, offering further evidence of the economy's underlying strength."
