Initial jobless claims rose 26,000 to 397,000 during the week ended March 5. The Labor Department noted that President's Day holiday in the prior week could have moved claims into the latest weekly count. The four-week moving average of initial jobless claims offers an alternative in the event of temporary distortions.

The four-week moving average is 392,250 vs. 416,000 a month ago, which supports the current view that labor market conditions are improving. The latest weekly increase is not inadequate to determine if it represents a reversal of the recent downward trend of initial jobless claims.

Continuing claims, which lag initial jobless claims by one week, fell 20,000 to 3.771 million. The number of claims under special programs, which lag initial jobless claims by two weeks, also declined (see Chart 10).

Asha Bangalore — Senior Vice President and Economist

http://www.northerntrust.com

Asha Bangalore is Vice President and Economist at The Northern Trust Company, Chicago. Prior to joining the bank in 1994, she was Consultant to savings and loan institutions and commercial banks at Financial & Economic Strategies Corporation, Chicago.

The opinions expressed herein are those of the author and do not necessarily represent the views of The Northern Trust Company. The Northern Trust Company does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions.

Comments

CarryTrader
12 Mar 11, 18:26

Unemployment and Poverty

The economy needs to have jobs growing at this rate for awhile for a recovery to be certain. However the more looming problem is the long

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