Initial jobless claims fell 5,000 to 382,000 during the week ended March 19. Continuing claims, which lag initial jobless claims by one week, dropped 2,000 to 3.721 million.

The number of recipients of unemployment insurance under special programs fell slightly (-12,528) for the week ended March 5. Continued improvements in the labor market allow the Fed to watch the trajectory of economic activity from the sidelines until the current QE2 is completed by June 2011.

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.

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