Text 14763, 82 rader
Skriven 2005-08-26 05:19:00 av Jeff Binkley (1:226/600)
Ärende: Jobless
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More bad news for the democrats...

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http://biz.yahoo.com/ap/050826/economy.html?.v=2

AP
Jobless Claims Fall to Four-Year Low
Friday August 26, 1:49 am ET 
By Martin Crutsinger, AP Economics Writer  
Unemployed Workers Receiving Jobless Benefits Falls to Four-Year Low in 
U.S. 


WASHINGTON (AP) -- The number of people receiving unemployment benefits 
reached a four-year low last week, fresh evidence of a strengthening 
economy.

The number of laid-off workers receiving jobless benefits averaged 2.58 
million over the four weeks ending last week, the lowest four-week 
average since March 2001, the Labor Department reported Thursday.

 
For just last week, the number of newly laid off workers applying for 
benefits fell by a better-than-expected 4,000 from the previous week to 
315,000, the lowest level for new claims since the first week in August.

Analysts said both the drop in total benefits being paid and the decline 
in new benefit applications pointed to an economy that was continuing to 
create jobs.

"The general message from the claims numbers as well as just about every 
other indicator we have seen over the past couple of months is that the 
economy is still growing at a very nice clip," said Nariman Behravesh, 
chief economist at Global Insight, an economic forecasting firm in 
Lexington, Mass.

On Wall Street, the Dow Jones industrial average managed to eke out a 
small gain even though oil prices closed at a record level for a second 
straight day, rising by 17 cents to $67.49 per barrel. The Dow Jones 
industrial average rose 15.76 points to close at 10,450.63.

So far this year, a strong economy has generated an average of 191,000 
new jobs per month, better than last year's average of 183,000. 
Employers created 207,000 jobs in July, which helped to keep the 
unemployment rate at a low level of 5 percent.

The overall economy, which grew at an annual rate of 3.4 percent in the 
spring, is powering ahead at an even faster pace above 4 percent in the 
current July-September quarter, many economists believe, and they expect 
this strength will add to job growth.

Behravesh predicted strong economic growth will keep monthly job 
creation between 150,000 and 200,000 and help to send the unemployment 
rate down to 4.7 percent over the next year.

Forecasters said the labor market will continue to improve as long as 
soaring energy costs don't jolt business and consumer confidence and 
cause cutbacks in spending.

"So far, the surge in oil prices has yet to do any significant damage to 
the broader economy," said Mark Zandi, chief economist at Economy.com, 
another forecasting firm. "We may see some softening in the consumer 
spending numbers soon, but unless that translates into a weaker job 
market, the economy should be able to weather these higher energy 
prices."

So far, soaring energy prices have not led to a broadbased rise in 
inflation. This has allowed the Federal Reserve to continue raising 
interest rates at a gradual pace to make sure inflation does not get out 
of control.

The decline in the number of people receiving benefits to a four-week 
average of 2.58 million represented an improvement of 684,000 from the 
3.26 million people drawing jobless benefits at the beginning of 2004.

Labor Department Employment & Training Administration: 
http://www.ows.doleta.gov


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